New York State Teachers Retirement System held its stake in SVB Financial Group (NASDAQ:SIVB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,826 shares of the bank’s stock at the end of the first quarter. New York State Teachers Retirement System owned about 0.18% of SVB Financial Group worth $17,274,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in SVB Financial Group during the first quarter worth $117,000. State of Alaska Department of Revenue acquired a new stake in SVB Financial Group during the first quarter worth $171,000. Commerzbank Aktiengesellschaft FI acquired a new stake in SVB Financial Group during the fourth quarter worth $201,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in SVB Financial Group during the first quarter worth $201,000. Finally, Scout Investments Inc. acquired a new stake in SVB Financial Group during the first quarter worth $208,000. Hedge funds and other institutional investors own 95.82% of the company’s stock.
SVB Financial Group (NASDAQ SIVB) traded down 2.01% during trading on Tuesday, hitting $177.12. The stock had a trading volume of 231,909 shares. The stock has a market cap of $9.30 billion, a PE ratio of 23.01 and a beta of 1.55. The firm’s 50-day moving average price is $178.54 and its 200-day moving average price is $179.27. SVB Financial Group has a 1-year low of $82.90 and a 1-year high of $198.83.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, April 27th. The bank reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.05. SVB Financial Group had a return on equity of 10.77% and a net margin of 23.67%. The business had revenue of $427.65 million during the quarter, compared to analysts’ expectations of $429.13 million. During the same quarter last year, the firm posted $1.52 earnings per share. SVB Financial Group’s revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts predict that SVB Financial Group will post $8.67 earnings per share for the current fiscal year.
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A number of analysts recently weighed in on the company. Barclays PLC lifted their price target on SVB Financial Group from $178.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 7th. Jefferies Group LLC reiterated a “buy” rating and set a $216.00 target price on shares of SVB Financial Group in a research report on Sunday, June 11th. Morgan Stanley boosted their target price on SVB Financial Group from $208.00 to $210.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. FIG Partners initiated coverage on SVB Financial Group in a research report on Tuesday, April 11th. They set an “outperform” rating and a $200.00 target price on the stock. Finally, Stephens reiterated a “buy” rating on shares of SVB Financial Group in a research report on Thursday, April 27th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $182.45.
In related news, insider Bruce Wallace sold 8,790 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $182.58, for a total transaction of $1,604,878.20. Following the completion of the sale, the insider now directly owns 14,248 shares in the company, valued at $2,601,399.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael Descheneaux sold 7,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $184.38, for a total value of $1,290,660.00. Following the sale, the chief financial officer now owns 18,419 shares of the company’s stock, valued at $3,396,095.22. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.
SVB Financial Group Company Profile
SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.
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