Is it a Good Time to Sell Your SVB Financial Group (SIVB) Shares?

Diamond Hill Capital, an investment management firm, published its “Diamond Hill Mid Cap Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. Diamond Hill invests on behalf of clients through a shared commitment to its valuation-driven investment principles, long-term perspective, capacity discipline, and client alignment. Amid a rocky market quarter overall, Diamond Hill Mid Cap Fund’s negative returns still outpaced the Russell Midcap Index by a healthy margin in Q1. Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Diamond Hill Mid Cap Fund mentioned SVB Financial Group (NASDAQ:SIVB) and explained its insights for the company. Founded in 1983, SVB Financial Group (NASDAQ:SIVB) is a Santa Clara, California-based commercial banking company with a $23.9 billion market capitalization. SVB Financial Group (NASDAQ:SIVB) delivered a -40.09% return since the beginning of the year, while its 12-month returns are down by -29.98%. The stock closed at $406.30 per share on July 13, 2022.  

Here is what Diamond Hill Mid Cap Fund has to say about SVB Financial Group (NASDAQ:SIVB) in its Q1 2022 investor letter:

“Other bottom contributors included SVB Financial Group (NASDAQ:SIVB). Innovation-economy focused bank SVB Financial Group was doubly punished as financials traded down and the sell-off in technology raised concerns about slower growth for this niche bank in the near term.”

Bank

Our calculations show that SVB Financial Group (NASDAQ:SIVB) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. SVB Financial Group (NASDAQ:SIVB) was in 34 hedge fund portfolios at the end of the first quarter of 2022, compared to 47 funds in the previous quarter. SVB Financial Group (NASDAQ:SIVB) delivered a -21.97% return in the past 3 months.

In October 2021, we also shared another hedge fund’s views on SVB Financial Group (NASDAQ:SIVB) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.