NumerixS Investment Technologies Inc Sells 615 Shares of SVB Financial Group (NASDAQ:SIVB)

NumerixS Investment Technologies Inc lessened its position in SVB Financial Group (NASDAQ:SIVB) by 23.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,970 shares of the bank’s stock after selling 615 shares during the period. NumerixS Investment Technologies Inc’s holdings in SVB Financial Group were worth $438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Life Insurance Co. grew its holdings in shares of SVB Financial Group by 19.2% in the 1st quarter. Sumitomo Life Insurance Co. now owns 5,404 shares of the bank’s stock worth $1,202,000 after acquiring an additional 872 shares during the last quarter. Ashford Capital Management Inc. grew its holdings in shares of SVB Financial Group by 12.1% during the fourth quarter. Ashford Capital Management Inc. now owns 99,819 shares of the bank’s stock valued at $18,958,000 after buying an additional 10,762 shares in the last quarter. Northern Trust Corp boosted its position in SVB Financial Group by 2.8% during the fourth quarter. Northern Trust Corp now owns 542,678 shares of the bank’s stock valued at $103,065,000 after purchasing an additional 14,982 shares during the last quarter. Basswood Capital Management L.L.C. boosted its position in SVB Financial Group by 22.0% during the fourth quarter. Basswood Capital Management L.L.C. now owns 41,389 shares of the bank’s stock valued at $7,861,000 after purchasing an additional 7,472 shares during the last quarter. Finally, Neuburgh Advisers LLC boosted its position in SVB Financial Group by 54.7% during the fourth quarter. Neuburgh Advisers LLC now owns 27,764 shares of the bank’s stock valued at $5,273,000 after purchasing an additional 9,812 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors.

In other news, insider Christopher Edmonds-Waters sold 590 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $251.10, for a total value of $148,149.00. Following the sale, the insider now directly owns 3,630 shares in the company, valued at approximately $911,493. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Marc C. Cadieux sold 2,304 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $240.77, for a total value of $554,734.08. Following the completion of the sale, the insider now owns 17,941 shares in the company, valued at $4,319,654.57. The disclosure for this sale can be found here. Insiders have sold 9,183 shares of company stock worth $2,213,623 over the last 90 days. Corporate insiders own 0.73% of the company’s stock.

A number of research firms recently issued reports on SIVB. BidaskClub raised SVB Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 4th. ValuEngine cut SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Maxim Group reduced their price objective on SVB Financial Group to $325.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Bank of America set a $280.00 price target on SVB Financial Group and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, FIG Partners cut SVB Financial Group from an “outperform” rating to a “market perform” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $309.49.

SIVB traded up $3.30 on Friday, hitting $224.59. 1,128,011 shares of the stock traded hands, compared to its average volume of 518,863. SVB Financial Group has a 52 week low of $177.70 and a 52 week high of $333.74. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.13. The company has a market cap of $11.65 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.43 and a beta of 2.12. The business has a fifty day moving average of $221.18.

SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $5.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.73 by $0.71. SVB Financial Group had a return on equity of 20.83% and a net margin of 36.09%. The firm had revenue of $793.26 million for the quarter, compared to analyst estimates of $744.49 million. During the same period in the previous year, the company posted $3.63 earnings per share. On average, research analysts forecast that SVB Financial Group will post 20.61 earnings per share for the current fiscal year.

About SVB Financial Group

SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit and credit cards, account analysis, and disbursement, as well as online and mobile banking services.

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

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