Allspring Global Investments Holdings LLC Has $1.81 Million Holdings in SVB Financial Group (NASDAQ:SIVB)

Allspring Global Investments Holdings LLC increased its stake in SVB Financial Group (NASDAQ:SIVBGet Rating) by 52.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,403 shares of the bank’s stock after purchasing an additional 1,851 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SVB Financial Group were worth $1,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moors & Cabot Inc. boosted its stake 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 purchasing an additional 108 shares during the period. Dupont Capital Management Corp acquired a new position in SVB Financial Group in the 2nd quarter worth $122,000. Forsta AP Fonden boosted its stake in SVB Financial Group by 4.3% in the 2nd quarter. Forsta AP Fonden now owns 9,800 shares of the bank’s stock worth $3,871,000 after purchasing an additional 400 shares during the period. Taikang Asset Management Hong Kong Co Ltd boosted its stake in SVB Financial Group by 12.3% in the 2nd quarter. Taikang Asset Management Hong Kong Co Ltd now owns 17,896 shares of the bank’s stock worth $55,468,000 after purchasing an additional 1,956 shares during the period. Finally, NuWave Investment Management LLC acquired a new position in SVB Financial Group in the 3rd quarter worth $51,000. 92.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SVB Financial Group

In other SVB Financial Group news, Director Beverly Kay Matthews bought 1,000 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were bought at an average cost of $232.06 per share, with a total value of $232,060.00. Following the completion of the acquisition, the director now owns 2,374 shares of the company’s stock, valued at $550,910.44. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CMO Michelle Draper sold 2,414 shares of the firm’s stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $215.61, for a total transaction of $520,482.54. Following the transaction, the chief marketing officer now directly owns 2,997 shares of the company’s stock, valued at $646,183.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Beverly Kay Matthews bought 1,000 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were acquired at an average cost of $232.06 per share, for a total transaction of $232,060.00. Following the completion of the acquisition, the director now directly owns 2,374 shares of the company’s stock, valued at approximately $550,910.44. The disclosure for this purchase can be found here. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SIVB. Barclays reduced their target price on shares of SVB Financial Group from $411.00 to $308.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 3rd. Morgan Stanley increased their price objective on shares of SVB Financial Group from $186.00 to $190.00 and gave the stock an “underweight” rating in a research note on Thursday, December 15th. Maxim Group reduced their price objective on shares of SVB Financial Group from $750.00 to $600.00 in a research note on Monday, October 24th. Truist Financial reduced their price objective on shares of SVB Financial Group from $274.00 to $250.00 in a research note on Friday, December 9th. Finally, Royal Bank of Canada reduced their price objective on shares of SVB Financial Group from $474.00 to $350.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $362.18.

SVB Financial Group Stock Down 0.8 %

SVB Financial Group stock opened at $250.04 on Friday. The stock has a market cap of $14.78 billion, a P/E ratio of 9.28, a P/E/G ratio of 1.59 and a beta of 1.47. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.28. SVB Financial Group has a twelve month low of $198.10 and a twelve month high of $674.35. The company’s 50-day moving average price is $228.39 and its two-hundred day moving average price is $317.33.

SVB Financial Group (NASDAQ:SIVBGet Rating) last released its quarterly earnings results on Thursday, January 19th. The bank reported $4.62 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.74). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.48 billion. SVB Financial Group had a net margin of 25.57% and a return on equity of 13.72%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $6.22 earnings per share. As a group, analysts expect that SVB Financial Group will post 25.97 EPS for the current year.

SVB Financial Group Company Profile

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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 consists 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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