Prio Wealth Limited Partnership reduced its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 73,868 shares of the bank’s stock after selling 2,304 shares during the period. Prio Wealth Limited Partnership owned approximately 0.14% of SVB Financial Group worth $21,330,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SIVB. Security National Trust Co. bought a new position in shares of SVB Financial Group during the 2nd quarter worth approximately $116,000. Smithfield Trust Co. grew its stake in shares of SVB Financial Group by 2,857.1% during the 1st quarter. Smithfield Trust Co. now owns 621 shares of the bank’s stock worth $149,000 after acquiring an additional 600 shares in the last quarter. Point72 Asia Hong Kong Ltd grew its stake in shares of SVB Financial Group by 716.9% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 629 shares of the bank’s stock worth $151,000 after acquiring an additional 552 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of SVB Financial Group during the 2nd quarter worth approximately $175,000. Finally, Private Capital Group LLC grew its stake in shares of SVB Financial Group by 145.0% during the 1st quarter. Private Capital Group LLC now owns 735 shares of the bank’s stock worth $176,000 after acquiring an additional 435 shares in the last quarter. Hedge funds and other institutional investors own 89.87% of the company’s stock.

SVB Financial Group opened at $316.75 on Friday, Marketbeat reports. SVB Financial Group has a 1-year low of $159.44 and a 1-year high of $333.74. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.59. The firm has a market capitalization of $16.98 billion, a P/E ratio of 23.23, a PEG ratio of 1.69 and a beta of 1.49.

SVB Financial Group (NASDAQ:SIVB) last released its earnings results on Thursday, July 26th. The bank reported $4.42 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.56. SVB Financial Group had a net margin of 29.56% and a return on equity of 16.47%. The business had revenue of $659.10 million during the quarter, compared to analysts’ expectations of $612.75 million. During the same period last year, the business earned $2.32 earnings per share. The firm’s revenue was up 39.9% on a year-over-year basis. sell-side analysts anticipate that SVB Financial Group will post 17.19 EPS for the current year.

In related news, Director John F. Robinson sold 500 shares of the firm’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $304.25, for a total value of $152,125.00. Following the completion of the transaction, the director now directly owns 5,517 shares of the company’s stock, valued at $1,678,547.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory W. Becker sold 7,000 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $325.40, for a total transaction of $2,277,800.00. The disclosure for this sale can be found here. Insiders sold 21,109 shares of company stock valued at $6,664,724 over the last three months. 0.74% of the stock is owned by company insiders.

Several brokerages have recently weighed in on SIVB. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $370.00 price target on shares of SVB Financial Group in a research note on Friday, July 27th. JPMorgan Chase & Co. raised their price target on shares of SVB Financial Group from $345.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, June 11th. They noted that the move was a valuation call. Wedbush raised their price target on shares of SVB Financial Group from $325.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Sandler O’Neill reaffirmed a “buy” rating on shares of SVB Financial Group in a research note on Friday, July 27th. Finally, Barclays reaffirmed a “hold” rating on shares of SVB Financial Group in a research note on Sunday, July 29th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $352.94.

SVB Financial Group Profile

SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its 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 card 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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