PNC Financial Services Group Inc. Reduces Stake in SVB Financial Group (SIVB)

PNC Financial Services Group Inc. lowered its stake in SVB Financial Group (NASDAQ:SIVB) by 11.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,566 shares of the bank’s stock after selling 1,004 shares during the period. PNC Financial Services Group Inc.’s holdings in SVB Financial Group were worth $2,184,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of SIVB. Yorktown Management & Research Co Inc grew its position in SVB Financial Group by 60.0% in the second quarter. Yorktown Management & Research Co Inc now owns 1,600 shares of the bank’s stock valued at $462,000 after acquiring an additional 600 shares during the last quarter. Brown Advisory Inc. bought a new position in SVB Financial Group in the second quarter valued at about $2,759,000. British Airways Pensions Investment Management Ltd grew its position in SVB Financial Group by 0.8% in the second quarter. British Airways Pensions Investment Management Ltd now owns 33,122 shares of the bank’s stock valued at $9,564,000 after acquiring an additional 271 shares during the last quarter. Chicago Equity Partners LLC grew its position in SVB Financial Group by 70.8% in the second quarter. Chicago Equity Partners LLC now owns 25,865 shares of the bank’s stock valued at $7,469,000 after acquiring an additional 10,725 shares during the last quarter. Finally, Motley Fool Asset Management LLC grew its position in SVB Financial Group by 5.7% in the second quarter. Motley Fool Asset Management LLC now owns 10,567 shares of the bank’s stock valued at $3,051,000 after acquiring an additional 567 shares during the last quarter. Institutional investors own 88.87% of the company’s stock.

Shares of SIVB stock opened at $319.29 on Friday. SVB Financial Group has a 12 month low of $167.99 and a 12 month high of $333.74. The stock has a market cap of $16.89 billion, a PE ratio of 23.12, a PEG ratio of 1.67 and a beta of 1.47. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14.

SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, July 26th. The bank reported $4.42 EPS for the quarter, beating the Zacks’ consensus estimate of $3.86 by $0.56. SVB Financial Group had a return on equity of 16.47% and a net margin of 29.56%. The firm had revenue of $659.10 million for the quarter, compared to analyst estimates of $612.75 million. During the same period last year, the firm posted $2.32 earnings per share. The business’s revenue for the quarter was up 39.9% on a year-over-year basis. equities analysts predict that SVB Financial Group will post 17.29 EPS for the current year.

A number of research analysts have issued reports on SIVB shares. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $339.00 target price on the stock in a research report on Tuesday, July 17th. Stephens reiterated a “buy” rating and issued a $350.00 target price on shares of SVB Financial Group in a research report on Friday, July 13th. BidaskClub cut SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 30th. Piper Jaffray Companies reiterated a “buy” rating and issued a $384.00 target price on shares of SVB Financial Group in a research report on Friday, July 27th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $370.00 target price on shares of SVB Financial Group in a research report on Friday, July 27th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. SVB Financial Group currently has an average rating of “Buy” and an average price target of $354.06.

In other news, Director John F. Robinson sold 500 shares of SVB Financial Group stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $324.07, for a total transaction of $162,035.00. Following the sale, the director now directly owns 5,017 shares of the company’s stock, valued at $1,625,859.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gregory W. Becker sold 12,872 shares of SVB Financial Group stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $310.97, for a total value of $4,002,805.84. Following the sale, the insider now directly owns 18,039 shares in the company, valued at $5,609,587.83. The disclosure for this sale can be found here. Insiders have sold 20,872 shares of company stock worth $6,594,766 over the last three months. Insiders own 0.74% of the company’s stock.

About SVB Financial Group

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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