Cambridge Trust Co. Sells 288 Shares of SVB Financial Group (NASDAQ:SIVB)

Posted by on Mar 19th, 2023

Cambridge Trust Co. reduced its stake in SVB Financial Group (NASDAQ:SIVB – Get Rating) by 13.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,876 shares of the bank’s stock after selling 288 shares during the period. Cambridge Trust Co.’s holdings in SVB Financial Group were worth $432,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SIVB. Vontobel Holding Ltd. grew its position in shares of SVB Financial Group by 156.4% during the 1st quarter. Vontobel Holding Ltd. now owns 3,703 shares of the bank’s stock worth $2,100,000 after buying an additional 2,259 shares during the period. Blair William & Co. IL increased its stake in SVB Financial Group by 2.6% in the first quarter. Blair William & Co. IL now owns 2,368 shares of the bank’s stock valued at $1,325,000 after purchasing an additional 60 shares in the last quarter. Prudential PLC acquired a new stake in SVB Financial Group in the first quarter worth $704,000. National Pension Service boosted its position in shares of SVB Financial Group by 7.9% during the first quarter. National Pension Service now owns 78,901 shares of the bank’s stock worth $44,141,000 after purchasing an additional 5,770 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of SVB Financial Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 6,346,725 shares of the bank’s stock valued at $3,550,675,000 after buying an additional 92,553 shares during the period. 92.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SVB Financial Group

In other news, CMO Michelle Draper sold 2,414 shares of the business’s stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of $215.61, for a total transaction of $520,482.54. Following the completion of the sale, the chief marketing officer now owns 2,997 shares in the company, valued at $646,183.17. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Daniel J. Beck sold 2,000 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $287.59, for a total value of $575,180.00. Following the completion of the sale, the chief financial officer now owns 4,207 shares of the company’s stock, valued at $1,209,891.13. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Michelle Draper sold 2,414 shares of the firm’s stock in a transaction dated Wednesday, December 28th. The stock was 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 in the company, valued at $646,183.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,004 shares of company stock worth $5,016,701. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SIVB. DA Davidson reduced their target price on SVB Financial Group to $240.00 in a report on Monday, December 12th. StockNews.com assumed coverage on SVB Financial Group in a research report on Thursday. They issued a “sell” rating for the company. Truist Financial downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $174.00 to $100.00 in a report on Friday, March 10th. Raymond James cut shares of SVB Financial Group from an “outperform” rating to a “market perform” rating in a report on Friday, March 10th. Finally, Wells Fargo & Company dropped their price objective on shares of SVB Financial Group from $350.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, March 9th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $348.47.

SVB Financial Group Stock Performance

SIVB opened at $106.04 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.42. SVB Financial Group has a 12-month low of $39.40 and a 12-month high of $597.16. The business has a 50 day moving average of $261.73 and a 200-day moving average of $273.23. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 4.18, a PEG ratio of 0.91 and a beta of 1.57.

SVB Financial Group (NASDAQ:SIVB – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The bank reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.26 by ($0.64). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.48 billion. SVB Financial Group had a net margin of 22.05% and a return on equity of 13.02%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $6.22 EPS. On average, equities research analysts expect that SVB Financial Group will post 14.49 earnings per share for the current year.

SVB Financial Group 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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