Ossiam Boosts Stock Position in SVB Financial Group (NASDAQ:SIVB)

Ossiam raised its stake in SVB Financial Group (NASDAQ:SIVB) by 93.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,640 shares of the bank’s stock after purchasing an additional 6,091 shares during the period. Ossiam’s holdings in SVB Financial Group were worth $6,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of SIVB. Principal Financial Group Inc. grew its stake in shares of SVB Financial Group by 151.2% during the first quarter. Principal Financial Group Inc. now owns 188,458 shares of the bank’s stock worth $93,034,000 after acquiring an additional 113,437 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in SVB Financial Group by 7.7% in the first quarter. Acadian Asset Management LLC now owns 1,021 shares of the bank’s stock valued at $504,000 after acquiring an additional 73 shares during the period. CIBC Private Wealth Group LLC acquired a new position in SVB Financial Group in the first quarter valued at approximately $203,000. Quadrant Capital Group LLC lifted its holdings in SVB Financial Group by 28.4% in the first quarter. Quadrant Capital Group LLC now owns 86 shares of the bank’s stock valued at $42,000 after acquiring an additional 19 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of SVB Financial Group by 4.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,751 shares of the bank’s stock valued at $3,333,000 after buying an additional 279 shares in the last quarter. Institutional investors own 86.54% of the company’s stock.

SIVB stock traded up $7.20 on Thursday, reaching $674.92. The company’s stock had a trading volume of 367 shares, compared to its average volume of 443,937. SVB Financial Group has a 52 week low of $263.34 and a 52 week high of $692.21. The company has a market capitalization of $38.09 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 2.39 and a beta of 2.04. The firm has a fifty day moving average of $603.11 and a two-hundred day moving average of $571.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.53 and a quick ratio of 0.53.

SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, July 22nd. The bank reported $9.09 EPS for the quarter, beating analysts’ consensus estimates of $6.48 by $2.61. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.14 billion. SVB Financial Group had a return on equity of 21.67% and a net margin of 35.74%. The company’s quarterly revenue was up 68.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.42 EPS. As a group, equities analysts expect that SVB Financial Group will post 30.94 EPS for the current fiscal year.

In other SVB Financial Group news, insider Michael Descheneaux sold 2,000 shares of the company’s stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $584.41, for a total transaction of $1,168,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Michelle Draper sold 172 shares of the company’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $562.25, for a total transaction of $96,707.00. The disclosure for this sale can be found here. Insiders sold 2,344 shares of company stock worth $1,360,861 over the last ninety days. 0.68% of the stock is currently owned by company insiders.

SIVB has been the subject of several research reports. Stephens reiterated an “equal weight” rating and set a $556.76 price target (down from $566.00) on shares of SVB Financial Group in a research report on Tuesday, July 27th. Keefe, Bruyette & Woods raised SVB Financial Group from a “market perform” rating to an “outperform” rating and set a $700.00 price target on the stock in a research note on Tuesday, September 7th. Truist upped their price target on SVB Financial Group from $625.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, July 26th. The Goldman Sachs Group began coverage on SVB Financial Group in a research note on Friday, October 1st. They set a “buy” rating and a $770.00 target price on the stock. Finally, DA Davidson increased their target price on SVB Financial Group from $575.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, July 23rd. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $647.78.

SVB Financial Group Company Profile

SVB Financial Group is a holding company, which engages in the provision of banking and financial services. It operates through the following segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. The Global Commercial Bank segment comprises of results from the commercial bank, private equity division, SVB wine, SVB analytics, and debt fund investments.

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Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

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