Douglas Lane & Associates LLC increased its position in shares of SVB Financial Group (NASDAQ:SIVB – Get Rating) by 1.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,435 shares of the bank's stock after buying an additional 1,400 shares during the period. Douglas Lane & Associates LLC owned 0.17% of SVB Financial Group worth $40,066,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of SIVB. Capital International Investors raised its stake in SVB Financial Group by 28.0% during the first quarter. Capital International Investors now owns 2,449,195 shares of the bank's stock worth $1,370,224,000 after buying an additional 535,924 shares during the last quarter. Norges Bank bought a new position in SVB Financial Group during the fourth quarter worth $346,160,000. Alecta Tjanstepension Omsesidigt raised its stake in SVB Financial Group by 20.8% during the second quarter. Alecta Tjanstepension Omsesidigt now owns 2,150,000 shares of the bank's stock worth $849,766,000 after buying an additional 370,500 shares during the last quarter. CI Investments Inc. raised its stake in SVB Financial Group by 3,527,342.9% during the first quarter. CI Investments Inc. now owns 246,921 shares of the bank's stock worth $138,140,000 after buying an additional 246,914 shares during the last quarter. Finally, Ninety One UK Ltd raised its stake in SVB Financial Group by 67.3% during the first quarter. Ninety One UK Ltd now owns 598,112 shares of the bank's stock worth $334,614,000 after buying an additional 240,526 shares during the last quarter. Institutional investors own 91.48% of the company's stock.
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SVB Financial Group stock opened at $340.83 on Friday. SVB Financial Group has a fifty-two week low of $331.60 and a fifty-two week high of $763.22. The stock has a market cap of $20.14 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.46 and a beta of 1.72. The firm's 50-day simple moving average is $407.57 and its 200 day simple moving average is $454.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.46 and a current ratio of 0.46.
SVB Financial Group (NASDAQ:SIVB – Get Rating) last released 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 net margin of 25.58% and a return on equity of 13.43%. During the same quarter in the previous year, the firm earned $9.09 earnings per share. Research analysts predict that SVB Financial Group will post 29.22 EPS for the current fiscal year.Analyst Ratings Changes
SIVB has been the subject of a number of research reports. Jefferies Financial Group reduced their price target on shares of SVB Financial Group from $534.00 to $498.00 in a report on Monday, July 11th. Stephens reduced their price target on shares of SVB Financial Group from $540.00 to $480.00 in a report on Friday, July 22nd. Wedbush cut shares of SVB Financial Group from an "outperform" rating to a "neutral" rating in a report on Thursday, June 30th. Oppenheimer cut shares of SVB Financial Group from an "outperform" rating to a "market perform" rating and set a $404.85 price target for the company. in a report on Monday, September 12th. Finally, The Goldman Sachs Group reduced their price target on shares of SVB Financial Group from $674.00 to $554.50 and set a "buy" rating for the company in a report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $547.57.
SVB Financial Group Company Profile
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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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