Cambridge Trust Co. lifted its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,698 shares of the bank’s stock after acquiring an additional 5,033 shares during the period. Cambridge Trust Co. owned 0.14% of SVB Financial Group worth $16,610,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in SIVB. Strs Ohio grew its position in shares of SVB Financial Group by 57.3% during the first quarter. Strs Ohio now owns 274,661 shares of the bank’s stock worth $61,073,000 after buying an additional 100,000 shares in the last quarter. Barometer Capital Management Inc. acquired a new stake in shares of SVB Financial Group during the first quarter worth approximately $356,000. Highland Capital Management LLC acquired a new stake in shares of SVB Financial Group during the first quarter worth approximately $1,616,000. IFM Investors Pty Ltd grew its position in shares of SVB Financial Group by 4.4% during the first quarter. IFM Investors Pty Ltd now owns 3,370 shares of the bank’s stock worth $749,000 after buying an additional 142 shares in the last quarter. Finally, Appleton Partners Inc. MA grew its position in shares of SVB Financial Group by 11.7% during the first quarter. Appleton Partners Inc. MA now owns 24,172 shares of the bank’s stock worth $5,375,000 after buying an additional 2,530 shares in the last quarter. Institutional investors and hedge funds own 91.12% of the company’s stock.
In other SVB Financial Group news, insider Christopher Edmonds-Waters sold 3,669 shares of the firm’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $242.39, for a total value of $889,328.91. Following the sale, the insider now directly owns 6,020 shares in the company, valued at $1,459,187.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John China sold 11,200 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $249.12, for a total value of $2,790,144.00. Following the completion of the sale, the insider now owns 22,172 shares in the company, valued at $5,523,488.64. The disclosure for this sale can be found here. Insiders sold 16,617 shares of company stock worth $4,096,266 over the last quarter. 0.73% of the stock is currently owned by company insiders.
SVB Financial Group (NASDAQ:SIVB) last posted its earnings results on Thursday, January 24th. The bank reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.69 by $0.27. The company had revenue of $673.69 million for the quarter, compared to analysts’ expectations of $697.89 million. SVB Financial Group had a return on equity of 19.90% and a net margin of 35.87%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the business posted $2.19 earnings per share. On average, analysts anticipate that SVB Financial Group will post 20.22 earnings per share for the current fiscal year.
SIVB has been the subject of a number of recent analyst reports. ValuEngine raised shares of SVB Financial Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. SunTrust Banks lifted their price objective on shares of SVB Financial Group to $280.00 and gave the stock a “buy” rating in a report on Monday, January 28th. They noted that the move was a valuation call. Zacks Investment Research raised shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $253.00 price objective for the company in a report on Wednesday, January 23rd. BidaskClub raised shares of SVB Financial Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 29th. Finally, Bank of America set a $280.00 price objective on shares of SVB Financial Group and gave the stock a “buy” rating in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $315.07.
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About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The 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 and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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