Mackenzie Financial Corp Raises Holdings in SVB Financial Group (NASDAQ:SIVB)

Mackenzie Financial Corp boosted its stake in shares of SVB Financial Group (NASDAQ:SIVBGet Rating) by 7.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 10,625 shares of the bank’s stock after buying an additional 759 shares during the quarter. Mackenzie Financial Corp’s holdings in SVB Financial Group were worth $4,197,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Moors & Cabot Inc. lifted its holdings in SVB Financial Group by 11.6% in the 2nd quarter. Moors & Cabot Inc. now owns 1,037 shares of the bank’s stock worth $410,000 after buying an additional 108 shares during the period. Dupont Capital Management Corp bought a new position in SVB Financial Group during the 2nd quarter valued at approximately $122,000. National Asset Management Inc. increased its position in SVB Financial Group by 44.6% during the 1st quarter. National Asset Management Inc. now owns 1,533 shares of the bank’s stock valued at $858,000 after buying an additional 473 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of SVB Financial Group by 18.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,170 shares of the bank’s stock worth $2,333,000 after purchasing an additional 661 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of SVB Financial Group by 5.4% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 37,678 shares of the bank’s stock worth $21,079,000 after purchasing an additional 1,919 shares in the last quarter. 91.48% of the stock is currently owned by hedge funds and other institutional investors.

SVB Financial Group Trading Up 0.4 %

Shares of SVB Financial Group stock opened at $223.53 on Monday. SVB Financial Group has a 52-week low of $204.37 and a 52-week high of $755.00. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.28. The company’s 50-day simple moving average is $297.36 and its 200-day simple moving average is $382.00. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52.

SVB Financial Group (NASDAQ:SIVBGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The bank reported $7.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.95 by $0.26. SVB Financial Group had a net margin of 25.57% and a return on equity of 13.72%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the business posted $7.26 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that SVB Financial Group will post 26.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

SIVB has been the topic of several analyst reports. UBS Group lowered their target price on SVB Financial Group from $625.00 to $430.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 27th. The Goldman Sachs Group reduced their price objective on SVB Financial Group from $450.00 to $360.00 and set a “buy” rating on the stock in a research note on Friday, September 30th. Truist Financial cut their target price on SVB Financial Group from $478.00 to $274.00 in a research note on Monday, October 24th. Wells Fargo & Company lowered their price target on SVB Financial Group from $450.00 to $400.00 and set an “overweight” rating for the company in a report on Friday, October 21st. Finally, Oppenheimer lowered SVB Financial Group from an “outperform” rating to a “market perform” rating and set a $404.85 price target for the company. in a report on Monday, September 12th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SVB Financial Group presently has a consensus rating of “Hold” and an average target price of $419.79.

About SVB Financial Group

(Get Rating)

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

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