National Asset Management Inc. Reduces Holdings in SVB Financial Group (NASDAQ:SIVB)

National Asset Management Inc. decreased its position in shares of SVB Financial Group (NASDAQ:SIVB) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,050 shares of the bank’s stock after selling 89 shares during the quarter. National Asset Management Inc.’s holdings in SVB Financial Group were worth $584,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of SIVB. Logan Capital Management Inc. purchased a new position in shares of SVB Financial Group during the first quarter worth about $30,000. HHM Wealth Advisors LLC grew its holdings in shares of SVB Financial Group by 2,800.0% during the second quarter. HHM Wealth Advisors LLC now owns 58 shares of the bank’s stock worth $32,000 after purchasing an additional 56 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of SVB Financial Group by 28.4% during the first quarter. Quadrant Capital Group LLC now owns 86 shares of the bank’s stock worth $42,000 after buying an additional 19 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of SVB Financial Group during the first quarter worth about $45,000. Finally, Trustcore Financial Services LLC grew its holdings in shares of SVB Financial Group by 33.3% during the second quarter. Trustcore Financial Services LLC now owns 80 shares of the bank’s stock worth $45,000 after buying an additional 20 shares during the last quarter. 86.54% of the stock is currently owned by institutional investors.

SIVB has been the subject of a number of recent analyst reports. Maxim Group raised their price objective on shares of SVB Financial Group from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Monday, July 26th. Wells Fargo & Company lifted their price target on shares of SVB Financial Group from $525.00 to $600.00 and gave the company an “equal weight” rating in a research report on Friday, July 23rd. Morgan Stanley lifted their price target on shares of SVB Financial Group from $570.00 to $625.00 and gave the company an “equal weight” rating in a research report on Monday, August 2nd. Raymond James lifted their price target on shares of SVB Financial Group from $600.00 to $660.00 and gave the company an “outperform” rating in a research report on Friday, July 23rd. Finally, DA Davidson lifted their price target on shares of SVB Financial Group from $575.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, July 23rd. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, SVB Financial Group currently has a consensus rating of “Buy” and an average target price of $630.44.

Shares of NASDAQ SIVB opened at $593.17 on Wednesday. SVB Financial Group has a 52-week low of $221.55 and a 52-week high of $623.00. The firm has a fifty day moving average of $572.55 and a 200-day moving average of $556.68. The stock has a market capitalization of $33.48 billion, a PE ratio of 16.95, a P/E/G ratio of 2.39 and a beta of 2.04. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.19.

SVB Financial Group (NASDAQ:SIVB) last posted its earnings results on Thursday, July 22nd. The bank reported $9.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.48 by $2.61. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.14 billion. SVB Financial Group had a net margin of 35.74% and a return on equity of 21.67%. The business’s quarterly revenue was up 68.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.42 EPS. Equities research analysts expect that SVB Financial Group will post 30.94 EPS for the current fiscal year.

In other SVB Financial Group news, CAO Karen Hon sold 127 shares of the business’s stock in a transaction on Wednesday, June 30th. The shares were sold at an average price of $551.85, for a total value of $70,084.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Garen K. Staglin acquired 500 shares of the business’s stock in a transaction on Tuesday, July 13th. The stock was purchased at an average price of $588.02 per share, for a total transaction of $294,010.00. Following the acquisition, the director now directly owns 14,680 shares in the company, valued at $8,632,133.60. The disclosure for this purchase can be found here. Insiders have sold a total of 19,103 shares of company stock worth $11,139,859 in the last 90 days. Company insiders own 0.68% of the company’s stock.

SVB Financial Group Profile

SVB Financial Group is a holding company, which engages in the provision of banking and financial services. It operates through the following segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. The Global Commercial Bank segment comprises of results from the commercial bank, private equity division, SVB wine, SVB analytics, and debt fund investments.

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

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