Huntington National Bank Raises Stake in SVB Financial Group (SIVB)

Huntington National Bank boosted its stake in SVB Financial Group (NASDAQ:SIVB) by 4.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,465 shares of the bank’s stock after buying an additional 759 shares during the period. Huntington National Bank’s holdings in SVB Financial Group were worth $3,246,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its stake in SVB Financial Group by 79.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock valued at $136,000 after buying an additional 343 shares during the last quarter. Whittier Trust Co. boosted its stake in SVB Financial Group by 2.6% in the second quarter. Whittier Trust Co. now owns 18,221 shares of the bank’s stock valued at $3,203,000 after buying an additional 464 shares during the last quarter. State Treasurer State of Michigan boosted its stake in SVB Financial Group by 1.4% in the second quarter. State Treasurer State of Michigan now owns 21,600 shares of the bank’s stock valued at $3,797,000 after buying an additional 300 shares during the last quarter. BTIM Corp. boosted its stake in SVB Financial Group by 4.6% in the second quarter. BTIM Corp. now owns 40,832 shares of the bank’s stock valued at $7,178,000 after buying an additional 1,788 shares during the last quarter. Finally, Sit Investment Associates Inc. boosted its stake in SVB Financial Group by 78.0% in the second quarter. Sit Investment Associates Inc. now owns 18,115 shares of the bank’s stock valued at $3,184,000 after buying an additional 7,940 shares during the last quarter. 95.24% of the stock is owned by institutional investors and hedge funds.

Shares of SVB Financial Group (NASDAQ SIVB) traded up 3.95% during trading on Tuesday, reaching $185.31. The company’s stock had a trading volume of 187,714 shares. SVB Financial Group has a 52-week low of $96.86 and a 52-week high of $198.83. The stock has a 50-day moving average of $177.97 and a 200-day moving average of $180.57. The stock has a market cap of $9.73 billion, a P/E ratio of 24.07 and a beta of 1.60.

SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, April 27th. The bank reported $1.91 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $427.65 million during the quarter, compared to analyst estimates of $429.13 million. During the same period last year, the company earned $1.52 earnings per share. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. Analysts predict that SVB Financial Group will post $8.66 earnings per share for the current fiscal year.

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Several research firms recently weighed in on SIVB. BidaskClub cut SVB Financial Group from a “strong-buy” rating to a “buy” rating in a report on Monday. Piper Jaffray Companies reissued a “buy” rating and set a $212.00 price target on shares of SVB Financial Group in a report on Friday, July 14th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $195.00 price target on shares of SVB Financial Group in a report on Friday, July 14th. Barclays PLC reissued an “equal weight” rating and set a $191.00 price target (up from $188.00) on shares of SVB Financial Group in a report on Wednesday, July 12th. Finally, Zacks Investment Research cut SVB Financial Group from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. SVB Financial Group currently has a consensus rating of “Buy” and an average target price of $200.27.

In other news, CFO Michael Descheneaux sold 7,000 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 18,419 shares of the company’s stock, valued at $3,396,095.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruce Wallace sold 8,790 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $182.58, for a total value of $1,604,878.20. Following the completion of the transaction, the insider now directly owns 14,248 shares of the company’s stock, valued at $2,601,399.84. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

About SVB Financial Group

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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Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

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