Pictet Asset Management Ltd. Acquires 1,928 Shares of SVB Financial Group (NASDAQ:SIVB)

Pictet Asset Management Ltd. raised its holdings in SVB Financial Group (NASDAQ:SIVB) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 112,343 shares of the bank’s stock after acquiring an additional 1,928 shares during the quarter. Pictet Asset Management Ltd.’s holdings in SVB Financial Group were worth $25,231,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Cibc World Markets Corp boosted its position in shares of SVB Financial Group by 30.5% during the second quarter. Cibc World Markets Corp now owns 9,093 shares of the bank’s stock worth $2,042,000 after purchasing an additional 2,123 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of SVB Financial Group by 35.4% during the second quarter. Meadow Creek Investment Management LLC now owns 16,288 shares of the bank’s stock worth $3,658,000 after purchasing an additional 4,256 shares in the last quarter. Commonwealth Bank of Australia boosted its position in shares of SVB Financial Group by 36.9% during the second quarter. Commonwealth Bank of Australia now owns 716 shares of the bank’s stock worth $159,000 after purchasing an additional 193 shares in the last quarter. Tyers Asset Management LLC boosted its position in shares of SVB Financial Group by 35.4% during the second quarter. Tyers Asset Management LLC now owns 28,504 shares of the bank’s stock worth $6,401,000 after purchasing an additional 7,448 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its position in shares of SVB Financial Group by 35.4% during the second quarter. Flinton Capital Management LLC now owns 34,612 shares of the bank’s stock worth $7,773,000 after purchasing an additional 9,044 shares in the last quarter. 92.12% of the stock is currently owned by hedge funds and other institutional investors.

In other SVB Financial Group news, COO Philip C. Cox sold 197 shares of SVB Financial Group stock in a transaction on Monday, July 1st. The shares were sold at an average price of $227.45, for a total value of $44,807.65. Following the sale, the chief operating officer now directly owns 8,185 shares in the company, valued at approximately $1,861,678.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marc C. Cadieux sold 2,000 shares of SVB Financial Group stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $229.94, for a total transaction of $459,880.00. Following the completion of the sale, the insider now owns 14,147 shares in the company, valued at $3,252,961.18. The disclosure for this sale can be found here. Insiders sold a total of 5,547 shares of company stock worth $1,189,038 over the last quarter. Company insiders own 0.73% of the company’s stock.

A number of brokerages recently commented on SIVB. Raymond James lowered shares of SVB Financial Group from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods lowered shares of SVB Financial Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $300.00 to $255.00 in a report on Sunday, July 7th. BidaskClub upgraded shares of SVB Financial Group from a “sell” rating to a “hold” rating in a report on Tuesday. Sanford C. Bernstein lowered shares of SVB Financial Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of SVB Financial Group from $285.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $272.09.

SIVB stock traded up $9.01 during midday trading on Friday, hitting $226.77. The company’s stock had a trading volume of 20,408 shares, compared to its average volume of 428,250. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.71 and a quick ratio of 0.71. SVB Financial Group has a twelve month low of $177.70 and a twelve month high of $330.50. The company’s fifty day moving average price is $203.50 and its 200 day moving average price is $224.01. The stock has a market capitalization of $11.24 billion, a P/E ratio of 12.41, a PEG ratio of 1.37 and a beta of 2.14.

SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $6.08 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $863.15 million for the quarter, compared to analyst estimates of $787.38 million. During the same period in the previous year, the business earned $4.42 EPS. Equities analysts expect that SVB Financial Group will post 21.25 EPS for the current fiscal 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.

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

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