Morse Asset Management Inc bought a new position in shares of SVB Financial Group (NASDAQ:SIVB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,925 shares of the bank’s stock, valued at approximately $338,000.

Other institutional investors have also made changes to their positions in the company. Global X Management Co. LLC increased its position in shares of SVB Financial Group by 58.6% in the second quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock worth $137,000 after buying an additional 289 shares in the last quarter. Pioneer Investment Management Inc. increased its position in shares of SVB Financial Group by 54.6% in the second quarter. Pioneer Investment Management Inc. now owns 79,461 shares of the bank’s stock worth $13,968,000 after buying an additional 28,077 shares in the last quarter. Pictet Asset Management Ltd. acquired a new position in shares of SVB Financial Group during the second quarter worth approximately $3,137,000. TD Asset Management Inc. acquired a new position in shares of SVB Financial Group during the second quarter worth approximately $221,000. Finally, Gilder Gagnon Howe & Co. LLC increased its position in shares of SVB Financial Group by 28.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 26,774 shares of the bank’s stock worth $4,707,000 after buying an additional 5,958 shares in the last quarter. Institutional investors own 95.12% of the company’s stock.

SVB Financial Group (SIVB) opened at 179.55 on Thursday. The company has a market cap of $9.46 billion, a P/E ratio of 21.82 and a beta of 1.59. The firm has a 50-day moving average price of $179.34 and a 200-day moving average price of $181.16. SVB Financial Group has a 12-month low of $101.28 and a 12-month high of $198.83.

SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.27. The business had revenue of $471.70 million during the quarter, compared to analyst estimates of $451.96 million. SVB Financial Group had a return on equity of 11.27% and a net margin of 24.36%. SVB Financial Group’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 EPS. On average, equities research analysts forecast that SVB Financial Group will post $8.98 earnings per share for the current fiscal year.

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A number of brokerages recently commented on SIVB. Maxim Group upped their target price on SVB Financial Group from $200.00 to $220.00 and gave the company a “buy” rating in a report on Monday, July 31st. BidaskClub downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Stephens restated a “buy” rating and set a $205.00 target price on shares of SVB Financial Group in a report on Friday, July 28th. Piper Jaffray Companies restated a “buy” rating and set a $212.00 target price on shares of SVB Financial Group in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $195.00 target price on shares of SVB Financial Group in a report on Friday, July 14th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $202.75.

In other SVB Financial Group news, insider Philip C. Cox sold 3,024 shares of SVB Financial Group stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $182.80, for a total transaction of $552,787.20. Following the completion of the sale, the insider now directly owns 2,872 shares of the company’s stock, valued at approximately $525,001.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bruce Wallace sold 8,790 shares of SVB Financial Group stock in a transaction on Monday, May 15th. The shares were sold at an average price of $182.58, for a total value of $1,604,878.20. Following the sale, the insider now directly owns 14,248 shares of the company’s stock, valued at $2,601,399.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,314 shares of company stock valued at $4,085,570. 0.73% of the stock is currently owned by corporate insiders.

SVB Financial Group Company Profile

SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.

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

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