Palisade Capital Management LLC NJ lowered its position in SVB Financial Group (NASDAQ:SIVB) by 7.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 145,200 shares of the bank’s stock after selling 12,396 shares during the period. SVB Financial Group makes up about 1.0% of Palisade Capital Management LLC NJ’s portfolio, making the stock its 13th largest position. Palisade Capital Management LLC NJ owned approximately 0.28% of SVB Financial Group worth $25,525,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SIVB. BlackRock Inc. increased its stake in SVB Financial Group by 16,192.8% in the first quarter. BlackRock Inc. now owns 4,539,004 shares of the bank’s stock worth $844,664,000 after buying an additional 4,511,145 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of SVB Financial Group by 7.0% in the first quarter. Vanguard Group Inc. now owns 4,205,626 shares of the bank’s stock valued at $782,624,000 after buying an additional 275,274 shares in the last quarter. Harbour Capital Advisors LLC increased its stake in shares of SVB Financial Group by 17,141.0% in the second quarter. Harbour Capital Advisors LLC now owns 1,389,972 shares of the bank’s stock valued at $7,907,000 after buying an additional 1,381,910 shares in the last quarter. Credit Agricole S A increased its stake in shares of SVB Financial Group by 924.5% in the first quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock valued at $44,547,000 after buying an additional 1,018,151 shares in the last quarter. Finally, Janus Capital Management LLC increased its stake in shares of SVB Financial Group by 15.5% in the first quarter. Janus Capital Management LLC now owns 977,034 shares of the bank’s stock valued at $181,816,000 after buying an additional 131,207 shares in the last quarter. Institutional investors and hedge funds own 95.12% of the company’s stock.

SVB Financial Group (SIVB) opened at 184.89 on Monday. The stock has a market capitalization of $9.74 billion, a PE ratio of 22.47 and a beta of 1.59. The firm has a 50-day moving average of $178.95 and a 200-day moving average of $180.74. SVB Financial Group has a 52-week low of $100.11 and a 52-week high of $198.83.

SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, July 27th. The bank reported $2.32 EPS for the quarter, topping the consensus estimate of $2.05 by $0.27. The firm had revenue of $471.70 million for the quarter, compared to the consensus estimate of $451.96 million. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 EPS. On average, equities analysts expect that SVB Financial Group will post $8.97 EPS for the current year.

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SIVB has been the subject of several recent research reports. Piper Jaffray Companies reiterated an “overweight” rating and issued a $214.00 price target (up from $202.00) on shares of SVB Financial Group in a report on Friday, April 14th. BidaskClub downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Wedbush reiterated a “neutral” rating and issued a $192.00 price target on shares of SVB Financial Group in a report on Tuesday, June 27th. Barclays PLC reiterated a “hold” rating and issued a $188.00 price target on shares of SVB Financial Group in a report on Monday, May 1st. Finally, Zacks Investment Research downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $202.75.

In related news, insider Bruce Wallace sold 8,790 shares of SVB Financial Group stock in a transaction on Monday, May 15th. The shares were sold at an average price of $182.58, for a total value of $1,604,878.20. Following the transaction, the insider now owns 14,248 shares in the company, valued at approximately $2,601,399.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Descheneaux sold 3,500 shares of SVB Financial Group stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $182.07, for a total transaction of $637,245.00. Following the completion of the transaction, the insider now owns 14,064 shares in the company, valued at approximately $2,560,632.48. The disclosure for this sale can be found here. Insiders sold a total of 22,314 shares of company stock worth $4,085,570 in the last quarter. Insiders own 0.73% of the company’s stock.

SVB Financial Group Company Profile

SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.

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

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