Bank of New York Mellon Corp Trims Position in SVB Financial Group (NASDAQ:SIVB)

Bank of New York Mellon Corp cut its holdings in shares of SVB Financial Group (NASDAQ:SIVB – Get Rating) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 473,064 shares of the bank’s stock after selling 2,975 shares during the period. Bank of New York Mellon Corp’s holdings in SVB Financial Group were worth $158,847,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Perigon Wealth Management LLC boosted its position in shares of SVB Financial Group by 2.3% during the second quarter. Perigon Wealth Management LLC now owns 1,032 shares of the bank’s stock valued at $408,000 after purchasing an additional 23 shares in the last quarter. Security National Bank boosted its position in shares of SVB Financial Group by 0.3% during the third quarter. Security National Bank now owns 10,445 shares of the bank’s stock valued at $3,507,000 after purchasing an additional 31 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of SVB Financial Group by 100.0% during the first quarter. Geneos Wealth Management Inc. now owns 72 shares of the bank’s stock valued at $40,000 after purchasing an additional 36 shares in the last quarter. Integrated Advisors Network LLC boosted its position in shares of SVB Financial Group by 5.0% during the second quarter. Integrated Advisors Network LLC now owns 841 shares of the bank’s stock valued at $332,000 after purchasing an additional 40 shares in the last quarter. Finally, ETF Managers Group LLC boosted its position in shares of SVB Financial Group by 4.0% during the third quarter. ETF Managers Group LLC now owns 1,225 shares of the bank’s stock valued at $411,000 after purchasing an additional 47 shares in the last quarter. 92.35% of the stock is owned by hedge funds and other institutional investors.

SVB Financial Group Price Performance

SVB Financial Group stock opened at $106.04 on Friday. The stock has a market cap of $6.28 billion, a PE ratio of 4.18, a price-to-earnings-growth ratio of 0.91 and a beta of 1.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.48 and a current ratio of 0.48. SVB Financial Group has a one year low of $39.40 and a one year high of $597.16. The stock has a fifty day moving average of $261.73 and a 200 day moving average of $273.23.

SVB Financial Group (NASDAQ:SIVB – Get Rating) last posted its quarterly earnings data on Thursday, January 19th. The bank reported $4.62 EPS for the quarter, missing analysts’ consensus estimates of $5.26 by ($0.64). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.48 billion. SVB Financial Group had a net margin of 22.05% and a return on equity of 13.02%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $6.22 EPS. As a group, sell-side analysts predict that SVB Financial Group will post 14.49 EPS for the current year.

Insiders Place Their Bets

In related news, Director Beverly Kay Matthews purchased 1,000 shares of SVB Financial Group stock in a transaction on Tuesday, January 3rd. The stock was acquired at an average price of $232.06 per share, for a total transaction of $232,060.00. Following the completion of the transaction, the director now directly owns 2,374 shares in the company, valued at approximately $550,910.44. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Beverly Kay Matthews purchased 1,000 shares of SVB Financial Group stock in a transaction on Tuesday, January 3rd. The stock was acquired at an average price of $232.06 per share, for a total transaction of $232,060.00. Following the completion of the transaction, the director now directly owns 2,374 shares in the company, valued at approximately $550,910.44. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Michelle Draper sold 974 shares of the company’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $300.69, for a total value of $292,872.06. Following the completion of the sale, the chief marketing officer now owns 2,997 shares of the company’s stock, valued at approximately $901,167.93. The disclosure for this sale can be found here. Insiders sold a total of 18,004 shares of company stock worth $5,016,701 over the last quarter. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SIVB has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on SVB Financial Group from $350.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, March 9th. Maxim Group downgraded SVB Financial Group from a “buy” rating to a “sell” rating in a report on Friday, March 10th. Raymond James downgraded SVB Financial Group from an “outperform” rating to a “market perform” rating in a report on Friday, March 10th. JPMorgan Chase & Co. dropped their target price on SVB Financial Group from $300.00 to $270.00 and set an “overweight” rating on the stock in a report on Thursday, March 9th. Finally, Piper Sandler dropped their target price on SVB Financial Group from $250.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, March 9th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, SVB Financial Group currently has an average rating of “Hold” and an average target price of $348.47.

About SVB Financial Group

(Get Rating)

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.