Pendal Group Ltd Sells 394 Shares of SVB Financial Group (SIVB)
Pendal Group Ltd cut its holdings in SVB Financial Group (NASDAQ:SIVB) by 6.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,679 shares of the bank’s stock after selling 394 shares during the quarter. Pendal Group Ltd’s holdings in SVB Financial Group were worth $1,765,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Security National Trust Co. purchased a new position in shares of SVB Financial Group in the second quarter valued at $116,000. Price Capital Management Inc. purchased a new position in shares of SVB Financial Group in the third quarter valued at $124,000. Stratos Wealth Partners LTD. purchased a new position in shares of SVB Financial Group in the third quarter valued at $146,000. Signaturefd LLC grew its holdings in shares of SVB Financial Group by 341.2% in the second quarter. Signaturefd LLC now owns 503 shares of the bank’s stock valued at $145,000 after purchasing an additional 389 shares in the last quarter. Finally, Advisors Preferred LLC purchased a new position in shares of SVB Financial Group in the second quarter valued at $167,000. 88.18% of the stock is owned by hedge funds and other institutional investors.
In other news, Director John F. Robinson sold 500 shares of SVB Financial Group stock in a transaction on Monday, September 10th. The stock was sold at an average price of $324.07, for a total transaction of $162,035.00. Following the completion of the sale, the director now directly owns 5,017 shares in the company, valued at $1,625,859.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Descheneaux sold 1,750 shares of SVB Financial Group stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $239.73, for a total value of $419,527.50. Following the sale, the insider now owns 18,289 shares of the company’s stock, valued at $4,384,421.97. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.
Shares of SIVB opened at $247.36 on Friday. The firm has a market capitalization of $13.42 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.41 and a beta of 1.68. SVB Financial Group has a 52-week low of $204.79 and a 52-week high of $333.74. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 0.14.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, October 25th. The bank reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.44 by $0.66. SVB Financial Group had a return on equity of 18.39% and a net margin of 32.44%. The company had revenue of $703.29 million during the quarter, compared to the consensus estimate of $664.51 million. On average, sell-side analysts anticipate that SVB Financial Group will post 17.93 earnings per share for the current fiscal year.
SVB Financial Group Company Profile
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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