Wright Investors Service Inc. Takes $576,000 Position in SVB Financial Group (NASDAQ:SIVB)

Wright Investors Service Inc. bought a new stake in SVB Financial Group (NASDAQ:SIVB) during the 2nd quarter, HoldingsChannel reports. The fund bought 2,562 shares of the bank’s stock, valued at approximately $576,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in SIVB. NEXT Financial Group Inc purchased a new stake in shares of SVB Financial Group in the second quarter valued at $33,000. Parallel Advisors LLC grew its holdings in shares of SVB Financial Group by 27.3% in the first quarter. Parallel Advisors LLC now owns 312 shares of the bank’s stock worth $69,000 after purchasing an additional 67 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of SVB Financial Group in the first quarter worth about $78,000. AdvisorNet Financial Inc grew its holdings in shares of SVB Financial Group by 43.9% in the second quarter. AdvisorNet Financial Inc now owns 426 shares of the bank’s stock worth $96,000 after purchasing an additional 130 shares during the last quarter. Finally, Advisory Services Network LLC grew its holdings in shares of SVB Financial Group by 11.0% in the second quarter. Advisory Services Network LLC now owns 503 shares of the bank’s stock worth $113,000 after purchasing an additional 50 shares during the last quarter. 90.51% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Michael Descheneaux sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $201.19, for a total value of $603,570.00. Following the sale, the insider now directly owns 21,438 shares in the company, valued at approximately $4,313,111.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John S. Clendening purchased 900 shares of the stock in a transaction dated Friday, May 24th. The stock was purchased at an average price of $221.12 per share, for a total transaction of $199,008.00. Following the completion of the acquisition, the director now directly owns 1,729 shares in the company, valued at approximately $382,316.48. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 5,547 shares of company stock worth $1,189,038. 0.73% of the stock is owned by company insiders.

A number of research firms have recently commented on SIVB. SunTrust Banks cut their price target on shares of SVB Financial Group to $260.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Raymond James cut shares of SVB Financial Group from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 8th. Maxim Group restated a “buy” rating and issued a $300.00 price target (down from $325.00) on shares of SVB Financial Group in a report on Monday, July 29th. Morgan Stanley cut their price target on shares of SVB Financial Group from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Finally, Royal Bank of Canada set a $280.00 price target on shares of SVB Financial Group and gave the stock a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $273.56.

SVB Financial Group stock traded down $1.83 during midday trading on Thursday, hitting $188.29. 7,274 shares of the company’s stock were exchanged, compared to its average volume of 592,857. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.12. SVB Financial Group has a 12 month low of $177.70 and a 12 month high of $332.90. The business’s 50-day moving average price is $217.08. The firm has a market cap of $9.81 billion, a P/E ratio of 10.32, a PEG ratio of 1.22 and a beta of 2.07.

SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, July 25th. The bank reported $6.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.98 by $1.10. SVB Financial Group had a net margin of 35.83% and a return on equity of 21.44%. The company had revenue of $863.15 million for the quarter, compared to analysts’ expectations of $787.38 million. During the same period in the prior year, the business earned $4.42 EPS. As a group, sell-side analysts expect that SVB Financial Group will post 21.26 earnings per share for the current year.

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.

Featured Story: What type of investment options does a Roth IRA provide?

Want to see what other hedge funds are holding SIVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SVB Financial Group (NASDAQ:SIVB).

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

Receive News & Ratings for SVB Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVB Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.