CIBC Asset Management Inc Purchases 204 Shares of SVB Financial Group (SIVB)
CIBC Asset Management Inc increased its position in SVB Financial Group (NASDAQ:SIVB) by 4.3% in the first quarter, Holdings Channel reports. The institutional investor owned 4,934 shares of the bank’s stock after buying an additional 204 shares during the quarter. CIBC Asset Management Inc’s holdings in SVB Financial Group were worth $1,097,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in SIVB. Vanguard Group Inc lifted its position in 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 during the last quarter. BlackRock Inc. lifted its position in 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 during the last quarter. Fisher Asset Management LLC lifted its position in 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 during the last quarter. Geode Capital Management LLC lifted its position in 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 during the last quarter. Finally, Northern Trust Corp lifted its position in 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 during the last quarter. Institutional investors own 90.52% of the company’s stock.
Several brokerages have weighed in on SIVB. BidaskClub downgraded SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Saturday, May 18th. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $253.00 price objective for the company in a research report on Wednesday, January 23rd. ValuEngine upgraded SVB Financial Group from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. FIG Partners downgraded SVB Financial Group from an “outperform” rating to a “market perform” rating in a research report on Friday, April 26th. Finally, Piper Jaffray Companies set a $291.00 price objective on SVB Financial Group and gave the company a “buy” rating in a research report on Friday, January 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $309.60.
Shares of SVB Financial Group stock opened at $231.17 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.13. The company has a market cap of $12.37 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.50 and a beta of 2.03. SVB Financial Group has a 52 week low of $177.70 and a 52 week high of $333.74.
SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, April 25th. The bank reported $5.44 EPS for the quarter, beating analysts’ consensus estimates of $4.73 by $0.71. The company had revenue of $793.26 million during the quarter, compared to the consensus estimate of $744.49 million. SVB Financial Group had a return on equity of 20.83% and a net margin of 36.09%. During the same quarter in the prior year, the company earned $3.63 earnings per share. On average, equities analysts predict that SVB Financial Group will post 20.37 earnings per share for the current fiscal year.
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SVB Financial Group Company Profile
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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