Comerica Bank Grows Stake in SVB Financial Group (SIVB)

Comerica Bank lifted its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,642 shares of the bank’s stock after acquiring an additional 374 shares during the quarter. Comerica Bank’s holdings in SVB Financial Group were worth $3,711,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SIVB. Vanguard Group Inc lifted its holdings in shares of SVB Financial Group by 2.2% in the third quarter. Vanguard Group Inc now owns 5,596,383 shares of the bank’s stock valued at $1,739,523,000 after purchasing an additional 121,374 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of SVB Financial Group by 2.5% in the fourth quarter. BlackRock Inc. now owns 3,840,775 shares of the bank’s stock valued at $729,440,000 after purchasing an additional 93,131 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of SVB Financial Group by 5.7% in the fourth quarter. Fisher Asset Management LLC now owns 1,063,554 shares of the bank’s stock valued at $201,990,000 after purchasing an additional 57,752 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of SVB Financial Group by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 713,667 shares of the bank’s stock valued at $135,307,000 after purchasing an additional 33,689 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of SVB Financial Group by 2.8% in the fourth quarter. Northern Trust Corp now owns 542,678 shares of the bank’s stock valued at $103,065,000 after purchasing an additional 14,982 shares in the last quarter. 90.52% of the stock is owned by institutional investors and hedge funds.

In other SVB Financial Group news, insider John China sold 11,200 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $249.12, for a total transaction of $2,790,144.00. Following the transaction, the insider now directly owns 22,172 shares in the company, valued at $5,523,488.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher Edmonds-Waters sold 204 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $256.01, for a total value of $52,226.04. Following the transaction, the insider now owns 3,494 shares in the company, valued at $894,498.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,383 shares of company stock valued at $5,003,767. 0.73% of the stock is owned by corporate insiders.

Shares of NASDAQ:SIVB opened at $229.77 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.13. SVB Financial Group has a 1 year low of $177.70 and a 1 year high of $333.74. The firm has a market cap of $12.23 billion, a P/E ratio of 12.60, a PEG ratio of 1.52 and a beta of 2.03.

SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $5.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.73 by $0.71. SVB Financial Group had a return on equity of 20.83% and a net margin of 36.09%. The business had revenue of $793.26 million during the quarter, compared to analyst estimates of $744.49 million. During the same period last year, the company earned $3.63 earnings per share. Analysts anticipate that SVB Financial Group will post 20.37 earnings per share for the current year.

A number of analysts have recently issued reports on the company. BidaskClub upgraded SVB Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. Maxim Group reduced their target price on SVB Financial Group to $325.00 and set a “buy” rating for the company in a report on Monday, April 29th. ValuEngine lowered SVB Financial Group from a “hold” rating to a “sell” rating in a report on Monday, April 29th. Bank of America set a $280.00 target price on SVB Financial Group and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, SunTrust Banks increased their target price on SVB Financial Group to $280.00 and gave the company a “buy” rating in a report on Monday, January 28th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $309.60.

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

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