Amundi Asset Management US Inc. grew its position in SVB Financial Group (NASDAQ:SIVB) by 15.1% during the first quarter, Holdings Channel reports. The firm owned 294,837 shares of the bank’s stock after acquiring an additional 38,700 shares during the period. Amundi Asset Management US Inc.’s holdings in SVB Financial Group were worth $145,549,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. acquired a new position in shares of SVB Financial Group in the fourth quarter valued at about $26,000. Logan Capital Management Inc. acquired a new position in shares of SVB Financial Group in the first quarter valued at about $30,000. Abundance Wealth Counselors acquired a new position in shares of SVB Financial Group in the first quarter valued at about $31,000. IronBridge Private Wealth LLC acquired a new position in shares of SVB Financial Group in the fourth quarter valued at about $29,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of SVB Financial Group in the first quarter valued at about $37,000. 89.05% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Christopher Edmonds-Waters sold 127 shares of the business’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $574.27, for a total value of $72,932.29. Following the completion of the sale, the insider now directly owns 2,827 shares of the company’s stock, valued at approximately $1,623,461.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory W. Becker sold 16,237 shares of the business’s stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $584.57, for a total value of $9,491,663.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,500 shares of company stock valued at $852,500 and have sold 26,096 shares valued at $15,183,023. 0.68% of the stock is owned by insiders.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, April 22nd. The bank reported $10.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.94 by $3.09. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.18 billion. SVB Financial Group had a return on equity of 20.13% and a net margin of 34.63%. SVB Financial Group’s revenue for the quarter was up 69.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.55 EPS. Equities analysts anticipate that SVB Financial Group will post 28.89 earnings per share for the current year.
A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on SVB Financial Group from $650.00 to $725.00 in a report on Friday, April 23rd. Piper Sandler raised their target price on SVB Financial Group from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Tuesday, May 11th. Maxim Group raised their target price on SVB Financial Group from $600.00 to $700.00 in a report on Monday, April 26th. Truist Securities raised their target price on SVB Financial Group from $605.00 to $625.00 in a report on Monday, April 26th. Finally, Zacks Investment Research lowered SVB Financial Group from a “buy” rating to a “hold” rating and set a $600.00 target price on the stock. in a report on Wednesday, June 23rd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. SVB Financial Group presently has an average rating of “Buy” and a consensus price target of $570.13.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. 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 solutions comprising term loans, equipment and asset-based loans, revolving lines of credit, and credit card programs, as well as mezzanine lending, acquisition finance, and corporate working capital facilities; 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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