Zurcher Kantonalbank Zurich Cantonalbank reduced its position in SVB Financial Group (NASDAQ:SIVB – Get Rating) by 74.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,559 shares of the bank’s stock after selling 51,721 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SVB Financial Group were worth $4,041,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in SVB Financial Group by 100.0% in the first quarter. Geneos Wealth Management Inc. now owns 72 shares of the bank’s stock worth $40,000 after purchasing an additional 36 shares during the period. Ronald Blue Trust Inc. lifted its holdings in shares of SVB Financial Group by 243.5% during the fourth quarter. Ronald Blue Trust Inc. now owns 79 shares of the bank’s stock valued at $26,000 after acquiring an additional 56 shares during the period. Private Trust Co. NA lifted its holdings in shares of SVB Financial Group by 107.8% during the third quarter. Private Trust Co. NA now owns 106 shares of the bank’s stock valued at $36,000 after acquiring an additional 55 shares during the period. MV Capital Management Inc. lifted its holdings in shares of SVB Financial Group by 169.0% during the fourth quarter. MV Capital Management Inc. now owns 113 shares of the bank’s stock valued at $26,000 after acquiring an additional 71 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of SVB Financial Group by 500.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 120 shares of the bank’s stock valued at $28,000 after acquiring an additional 100 shares during the period. 92.35% of the stock is owned by institutional investors.
SVB Financial Group Price Performance
SVB Financial Group stock opened at $0.77 on Friday. The firm has a market capitalization of $45.58 million, a P/E ratio of 0.03, a PEG ratio of 0.91 and a beta of 1.57. SVB Financial Group has a 1 year low of $39.40 and a 1 year high of $597.16. The business has a 50-day moving average of $130.69 and a 200-day moving average of $212.80. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.42.
Insider Transactions at SVB Financial Group
In other news, CMO Michelle Draper sold 974 shares of the business’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $300.69, for a total transaction of $292,872.06. Following the completion of the transaction, the chief marketing officer now directly owns 2,997 shares in the company, valued at approximately $901,167.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Daniel J. Beck sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $287.59, for a total value of $575,180.00. Following the completion of the transaction, the chief financial officer now directly owns 4,207 shares in the company, valued at approximately $1,209,891.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Michelle Draper sold 974 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $300.69, for a total value of $292,872.06. Following the completion of the transaction, the chief marketing officer now owns 2,997 shares of the company’s stock, valued at $901,167.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,425 shares of company stock worth $4,446,718. 0.62% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on SIVB. Wells Fargo & Company cut their price objective on SVB Financial Group from $350.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, March 9th. JPMorgan Chase & Co. cut their price objective on SVB Financial Group from $300.00 to $270.00 and set an “overweight” rating for the company in a report on Thursday, March 9th. Piper Sandler cut their price objective on SVB Financial Group from $250.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, March 9th. Barclays cut their price objective on SVB Financial Group from $411.00 to $308.00 and set an “equal weight” rating for the company in a report on Tuesday, January 3rd. Finally, The Goldman Sachs Group raised their target price on SVB Financial Group from $280.00 to $312.00 and gave the company a “buy” rating in a research note on Friday, March 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, SVB Financial Group presently has an average rating of “Hold” and an average price target of $348.47.
SVB Financial Group Profile
SVB Financial Group is a holding company, which engages in the provision of banking and financial services to clients primarily in the technology and life science/healthcare industries, as well as global private equity and venture capital clients. It operates through the following segments: Silicon Valley Bank, SVB Private, SVB Capital, and SVB Securities.
Further Reading
- Get a free copy of the StockNews.com research report on SVB Financial Group (SIVB)
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