Vista Capital Partners Inc. purchased a new stake in SVB Financial Group (NASDAQ:SIVB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 672 shares of the bank’s stock, valued at approximately $209,000.
Several other hedge funds also recently modified their holdings of the company. Poplar Forest Capital LLC increased its stake in shares of SVB Financial Group by 24.8% in the third quarter. Poplar Forest Capital LLC now owns 21,135 shares of the bank’s stock valued at $6,569,000 after buying an additional 4,199 shares during the period. Ownership Capital B.V. grew its stake in SVB Financial Group by 0.6% during the third quarter. Ownership Capital B.V. now owns 281,900 shares of the bank’s stock worth $87,623,000 after purchasing an additional 1,791 shares during the period. Gulf International Bank UK Ltd grew its stake in SVB Financial Group by 4.6% during the third quarter. Gulf International Bank UK Ltd now owns 17,480 shares of the bank’s stock worth $5,433,000 after purchasing an additional 770 shares during the period. Mn Services Vermogensbeheer B.V. grew its stake in SVB Financial Group by 7.3% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 8,801 shares of the bank’s stock worth $2,736,000 after purchasing an additional 600 shares during the period. Finally, BP PLC grew its stake in SVB Financial Group by 142.9% during the third quarter. BP PLC now owns 17,000 shares of the bank’s stock worth $5,283,000 after purchasing an additional 10,000 shares during the period. 88.18% of the stock is owned by institutional investors.
In other news, Director John F. Robinson sold 500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $324.07, for a total value of $162,035.00. Following the transaction, the director now owns 5,017 shares in the company, valued at $1,625,859.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Descheneaux sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $239.73, for a total value of $419,527.50. Following the completion of the transaction, the insider now owns 18,289 shares in the company, valued at approximately $4,384,421.97. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, October 25th. The bank reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.44 by $0.66. The business had revenue of $703.29 million for the quarter, compared to analyst estimates of $664.51 million. SVB Financial Group had a return on equity of 18.39% and a net margin of 32.44%. Equities research analysts anticipate that SVB Financial Group will post 17.93 earnings per share for the current year.
Several equities research analysts recently commented on SIVB shares. Jefferies Financial Group raised their target price on SVB Financial Group to $378.00 and gave the stock a “buy” rating in a research note on Monday, August 27th. Zacks Investment Research cut SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Raymond James decreased their target price on SVB Financial Group from $392.00 to $333.00 and set a “strong-buy” rating for the company in a research note on Friday, October 26th. SunTrust Banks raised their target price on SVB Financial Group to $350.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Finally, ValuEngine lowered SVB Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $349.22.
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About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit card account analysis, and disbursement, as well as online and mobile banking services.
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