UBS Asset Management Americas Inc. Sells 12,863 Shares of SVB Financial Group (NASDAQ:SIVB)
UBS Asset Management Americas Inc. lowered its stake in SVB Financial Group (NASDAQ:SIVB) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 197,217 shares of the bank’s stock after selling 12,863 shares during the quarter. UBS Asset Management Americas Inc. owned 0.38% of SVB Financial Group worth $49,509,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in SIVB. Virtu Financial LLC purchased a new position in SVB Financial Group during the 3rd quarter valued at approximately $270,000. Stifel Financial Corp increased its holdings in SVB Financial Group by 3.6% during the 3rd quarter. Stifel Financial Corp now owns 36,385 shares of the bank’s stock worth $7,597,000 after purchasing an additional 1,265 shares during the period. Pictet Asset Management Ltd. increased its holdings in SVB Financial Group by 40.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 157,803 shares of the bank’s stock worth $32,973,000 after purchasing an additional 45,460 shares during the period. California State Teachers Retirement System increased its holdings in SVB Financial Group by 0.3% during the 3rd quarter. California State Teachers Retirement System now owns 86,023 shares of the bank’s stock worth $17,975,000 after purchasing an additional 281 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in SVB Financial Group by 2.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 122,793 shares of the bank’s stock worth $25,658,000 after purchasing an additional 3,429 shares during the period. Hedge funds and other institutional investors own 92.29% of the company’s stock.
SIVB has been the topic of several research reports. Wells Fargo & Co raised their price objective on SVB Financial Group from $240.00 to $255.00 and gave the stock an “equal weight” rating in a report on Friday, January 24th. SunTrust Banks raised their price objective on SVB Financial Group from $285.00 to $293.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Maxim Group reiterated a “buy” rating and issued a $250.00 price target (down from $300.00) on shares of SVB Financial Group in a report on Friday, March 13th. They noted that the move was a valuation call. ValuEngine upgraded SVB Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, March 12th. Finally, DA Davidson cut their price target on SVB Financial Group from to in a report on Wednesday, March 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. SVB Financial Group currently has a consensus rating of “Buy” and an average target price of $257.87.
Shares of NASDAQ:SIVB traded up $6.63 on Wednesday, reaching $165.00. The company had a trading volume of 924,242 shares, compared to its average volume of 676,861. SVB Financial Group has a 52-week low of $127.39 and a 52-week high of $270.95. The firm’s 50 day simple moving average is $210.54 and its 200-day simple moving average is $225.71. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $8.16 billion, a PE ratio of 7.59, a PEG ratio of 1.06 and a beta of 2.20.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $5.06 EPS for the quarter, topping the Zacks’ consensus estimate of $4.59 by $0.47. The company had revenue of $847.01 million during the quarter, compared to analysts’ expectations of $786.84 million. SVB Financial Group had a return on equity of 19.33% and a net margin of 32.20%. During the same quarter in the previous year, the firm posted $4.96 EPS. As a group, equities research analysts predict that SVB Financial Group will post 16.81 earnings per share for the current year.
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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