Mission Wealth Management LP lowered its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 5.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 989 shares of the bank’s stock after selling 58 shares during the quarter. Mission Wealth Management LP’s holdings in SVB Financial Group were worth $207,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of SIVB. Invesco Ltd. boosted its stake in shares of SVB Financial Group by 122.0% in the 2nd quarter. Invesco Ltd. now owns 1,425,010 shares of the bank’s stock valued at $320,042,000 after purchasing an additional 783,083 shares in the last quarter. Royal Bank of Canada lifted its position in SVB Financial Group by 20.4% during the 2nd quarter. Royal Bank of Canada now owns 1,038,148 shares of the bank’s stock worth $233,157,000 after buying an additional 175,687 shares in the last quarter. Fisher Asset Management LLC lifted its position in SVB Financial Group by 0.7% during the 2nd quarter. Fisher Asset Management LLC now owns 1,017,094 shares of the bank’s stock worth $228,429,000 after buying an additional 7,245 shares in the last quarter. Northern Trust Corp lifted its position in SVB Financial Group by 3.3% during the 2nd quarter. Northern Trust Corp now owns 570,929 shares of the bank’s stock worth $128,225,000 after buying an additional 18,072 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in SVB Financial Group by 1.5% during the 2nd quarter. Janus Henderson Group PLC now owns 568,912 shares of the bank’s stock worth $127,772,000 after buying an additional 8,450 shares in the last quarter. Hedge funds and other institutional investors own 91.48% of the company’s stock.
NASDAQ SIVB traded down $0.85 during trading hours on Friday, reaching $238.60. 307,500 shares of the company’s stock were exchanged, compared to its average volume of 511,038. The company’s 50-day moving average is $211.88 and its two-hundred day moving average is $216.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.71 and a current ratio of 0.66. SVB Financial Group has a one year low of $177.70 and a one year high of $263.16. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.41 and a beta of 2.17.
In other news, insider Philip C. Cox sold 848 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $225.00, for a total transaction of $190,800.00. Following the transaction, the insider now owns 8,264 shares of the company’s stock, valued at approximately $1,859,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Descheneaux sold 2,500 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $236.12, for a total value of $590,300.00. Following the transaction, the insider now directly owns 21,938 shares in the company, valued at approximately $5,180,000.56. The disclosure for this sale can be found here. Insiders have sold a total of 4,348 shares of company stock worth $1,005,270 in the last ninety days. Insiders own 0.73% of the company’s stock.
Several research analysts recently issued reports on SIVB shares. Wells Fargo & Co reduced their price target on shares of SVB Financial Group from $240.00 to $225.00 and set a “market perform” rating on the stock in a research report on Friday, October 25th. BidaskClub upgraded shares of SVB Financial Group from a “hold” rating to a “buy” rating in a research report on Thursday. SunTrust Banks set a $250.00 price target on shares of SVB Financial Group and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Wedbush boosted their price objective on SVB Financial Group from $222.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Piper Jaffray Companies boosted their price objective on SVB Financial Group from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. SVB Financial Group currently has a consensus rating of “Buy” and a consensus price target of $260.38.
SVB Financial Group Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The 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 and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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