Cerity Partners LLC grew its position in SVB Financial Group (NASDAQ:SIVB – Get Rating) by 95.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,119 shares of the bank’s stock after acquiring an additional 546 shares during the quarter. Cerity Partners LLC’s holdings in SVB Financial Group were worth $442,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Urban Wealth Management LLC acquired a new stake in shares of SVB Financial Group in the second quarter valued at approximately $26,000. First Horizon Advisors Inc. lifted its holdings in shares of SVB Financial Group by 200.0% during the second quarter. First Horizon Advisors Inc. now owns 72 shares of the bank’s stock worth $27,000 after purchasing an additional 48 shares during the period. TCI Wealth Advisors Inc. lifted its holdings in shares of SVB Financial Group by 52.0% during the second quarter. TCI Wealth Advisors Inc. now owns 76 shares of the bank’s stock worth $30,000 after purchasing an additional 26 shares during the period. Valley National Advisers Inc. lifted its holdings in shares of SVB Financial Group by 73.0% during the first quarter. Valley National Advisers Inc. now owns 64 shares of the bank’s stock worth $36,000 after purchasing an additional 27 shares during the period. Finally, Tcwp LLC acquired a new stake in shares of SVB Financial Group during the first quarter worth $37,000. 91.48% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on SIVB. Raymond James decreased their price target on SVB Financial Group from $480.00 to $345.00 and set an “outperform” rating for the company in a report on Friday, October 21st. Evercore ISI raised SVB Financial Group from an “in-line” rating to an “outperform” rating and set a $430.00 price target for the company in a report on Monday, July 25th. Maxim Group decreased their price target on SVB Financial Group from $750.00 to $600.00 in a report on Monday, October 24th. Piper Sandler cut SVB Financial Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $400.00 to $265.00 in a research report on Friday, October 21st. Finally, StockNews.com upgraded SVB Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $419.79.
SVB Financial Group Stock Up 0.4 %
SVB Financial Group (NASDAQ:SIVB – Get Rating) last posted its quarterly earnings data on Thursday, October 20th. The bank reported $7.21 EPS for the quarter, beating analysts’ consensus estimates of $6.95 by $0.26. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.64 billion. SVB Financial Group had a return on equity of 13.72% and a net margin of 25.57%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $7.26 earnings per share. As a group, equities research analysts anticipate that SVB Financial Group will post 26.43 EPS for the current fiscal year.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance, and other financial products and services.
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