SVB Financial Group (NASDAQ:SIVB) Shares Bought by Shell Asset Management Co.

Shell Asset Management Co. raised its position in shares of SVB Financial Group (NASDAQ:SIVB) by 89.8% during the second quarter, Holdings Channel reports. The firm owned 3,638 shares of the bank’s stock after buying an additional 1,721 shares during the period. Shell Asset Management Co.’s holdings in SVB Financial Group were worth $640,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Capital Management Associates NY acquired a new stake in SVB Financial Group during the second quarter worth approximately $527,000. Huntington National Bank boosted its stake in SVB Financial Group by 4.3% in the second quarter. Huntington National Bank now owns 18,465 shares of the bank’s stock worth $3,246,000 after buying an additional 759 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in SVB Financial Group by 79.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock worth $136,000 after buying an additional 343 shares during the period. Whittier Trust Co. boosted its stake in SVB Financial Group by 2.6% in the second quarter. Whittier Trust Co. now owns 18,221 shares of the bank’s stock worth $3,203,000 after buying an additional 464 shares during the period. Finally, State Treasurer State of Michigan boosted its stake in SVB Financial Group by 1.4% in the second quarter. State Treasurer State of Michigan now owns 21,600 shares of the bank’s stock worth $3,797,000 after buying an additional 300 shares during the period. Institutional investors own 95.12% of the company’s stock.

SVB Financial Group (NASDAQ:SIVB) opened at 172.03 on Friday. The stock has a 50 day moving average price of $179.24 and a 200 day moving average price of $181.13. The stock has a market capitalization of $9.06 billion, a PE ratio of 20.91 and a beta of 1.59. SVB Financial Group has a 52 week low of $103.05 and a 52 week high of $198.83.

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

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A number of research firms have commented on SIVB. Jefferies Group LLC reiterated a “buy” rating and issued a $216.00 price target on shares of SVB Financial Group in a research note on Friday. Maxim Group increased their price target on SVB Financial Group from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, July 31st. BidaskClub cut SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Stephens reiterated a “buy” rating and issued a $205.00 price target on shares of SVB Financial Group in a research note on Friday, July 28th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $212.00 price target on shares of SVB Financial Group in a research note on Friday, July 14th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $202.75.

In related news, insider Philip C. Cox sold 3,024 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $182.80, for a total value 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 legal filing with the SEC, which can be accessed through the SEC website. Also, insider Bruce Wallace sold 8,790 shares of the company’s stock in a transaction dated 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 completion of 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 three months, insiders sold 22,314 shares of company stock valued at $4,085,570. Insiders own 0.73% of the company’s stock.

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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