Berkshire Bank grew its position in SVB Financial Group (NASDAQ:SIVB – Get Rating) by 130.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,414 shares of the bank's stock after acquiring an additional 1,931 shares during the period. Berkshire Bank's holdings in SVB Financial Group were worth $1,348,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC raised its stake in shares of SVB Financial Group by 5.6% in the second quarter. Global Retirement Partners LLC now owns 3,136 shares of the bank's stock valued at $1,239,000 after acquiring an additional 166 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of SVB Financial Group by 6.6% in the second quarter. IFM Investors Pty Ltd now owns 9,988 shares of the bank's stock valued at $3,945,000 after acquiring an additional 618 shares during the last quarter. Gofen & Glossberg LLC IL raised its stake in shares of SVB Financial Group by 2.6% in the second quarter. Gofen & Glossberg LLC IL now owns 38,425 shares of the bank's stock valued at $15,177,000 after acquiring an additional 969 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of SVB Financial Group by 66.9% in the second quarter. Raymond James Trust N.A. now owns 873 shares of the bank's stock valued at $345,000 after acquiring an additional 350 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in shares of SVB Financial Group by 8.2% in the second quarter. Flagship Harbor Advisors LLC now owns 1,059 shares of the bank's stock valued at $418,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 91.48% of the company's stock.
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Analyst Ratings Changes
SIVB has been the subject of several research analyst reports. UBS Group dropped their price objective on shares of SVB Financial Group from $625.00 to $430.00 and set a "neutral" rating for the company in a research report on Wednesday, July 27th. Truist Financial dropped their price objective on shares of SVB Financial Group from $500.00 to $478.00 and set a "buy" rating for the company in a research report on Wednesday, September 14th. Morgan Stanley dropped their price objective on shares of SVB Financial Group from $523.00 to $493.00 and set an "overweight" rating for the company in a research report on Friday, July 22nd. Raymond James dropped their price objective on shares of SVB Financial Group from $565.00 to $480.00 in a research report on Friday, July 22nd. Finally, Wedbush cut shares of SVB Financial Group from an "outperform" rating to a "neutral" rating in a research report on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, SVB Financial Group has an average rating of "Moderate Buy" and a consensus target price of $547.57.
SVB Financial Group Trading Down 0.5 %
Shares of SIVB stock traded down $1.74 on Friday, hitting $340.83. The stock had a trading volume of 607,143 shares, compared to its average volume of 537,588. SVB Financial Group has a twelve month low of $331.60 and a twelve month high of $763.22. The firm has a market cap of $20.14 billion, a P/E ratio of 13.12, a PEG ratio of 1.47 and a beta of 1.72. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average price of $407.57 and a two-hundred day moving average price of $455.31.
SVB Financial Group (NASDAQ:SIVB – Get Rating) last announced its earnings results on Thursday, July 21st. The bank reported $5.60 earnings per share for the quarter, missing analysts' consensus estimates of $7.76 by ($2.16). SVB Financial Group had a return on equity of 13.43% and a net margin of 25.58%. During the same quarter last year, the business earned $9.09 earnings per share. As a group, analysts forecast that SVB Financial Group will post 29.22 earnings per share for the current fiscal year.
About SVB Financial Group
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SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance, and other financial products and services.
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