Peloton Wealth Strategists trimmed its position in SVB Financial Group (NASDAQ:SIVB) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,950 shares of the bank’s stock after selling 250 shares during the period. SVB Financial Group comprises approximately 2.1% of Peloton Wealth Strategists’ holdings, making the stock its 19th largest holding. Peloton Wealth Strategists’ holdings in SVB Financial Group were worth $2,873,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its stake in shares of SVB Financial Group by 4.0% in the 2nd quarter. CIBC Asset Management Inc now owns 4,829 shares of the bank’s stock valued at $1,394,000 after purchasing an additional 187 shares during the period. Aureus Asset Management LLC lifted its stake in shares of SVB Financial Group by 0.3% in the 2nd quarter. Aureus Asset Management LLC now owns 73,244 shares of the bank’s stock valued at $21,150,000 after purchasing an additional 190 shares during the period. Middleton & Co Inc MA lifted its stake in shares of SVB Financial Group by 2.3% in the 2nd quarter. Middleton & Co Inc MA now owns 8,436 shares of the bank’s stock valued at $2,436,000 after purchasing an additional 191 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of SVB Financial Group by 10.1% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,551 shares of the bank’s stock valued at $612,000 after purchasing an additional 235 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of SVB Financial Group by 3.1% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 7,809 shares of the bank’s stock valued at $2,255,000 after purchasing an additional 238 shares during the period. Hedge funds and other institutional investors own 88.87% of the company’s stock.

SVB Financial Group stock opened at $319.29 on Monday. SVB Financial Group has a 52 week low of $167.99 and a 52 week high of $333.74. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market cap of $16.89 billion, a P/E ratio of 32.22, a price-to-earnings-growth ratio of 1.67 and a beta of 1.47.

SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, July 26th. The bank reported $4.42 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $659.10 million during the quarter, compared to analysts’ expectations of $612.75 million. During the same quarter last year, the company posted $2.32 earnings per share. SVB Financial Group’s quarterly revenue was up 39.9% on a year-over-year basis. sell-side analysts predict that SVB Financial Group will post 17.29 EPS for the current year.

Several brokerages recently commented on SIVB. Jefferies Financial Group raised their price objective on SVB Financial Group to $378.00 and gave the stock a “buy” rating in a research note on Monday, August 27th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $370.00 price objective on shares of SVB Financial Group in a research note on Friday, July 27th. JPMorgan Chase & Co. raised their price objective on SVB Financial Group from $345.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, June 11th. They noted that the move was a valuation call. Wedbush raised their price objective on SVB Financial Group from $325.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of SVB Financial Group in a research note on Friday, July 27th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $354.06.

In other SVB Financial Group news, Director John F. Robinson sold 500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $324.07, for a total transaction of $162,035.00. Following the completion of the sale, the director now directly owns 5,017 shares in the company, valued at $1,625,859.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory W. Becker sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $325.40, for a total transaction of $2,277,800.00. The disclosure for this sale can be found here. Insiders have sold 20,872 shares of company stock valued at $6,594,766 in the last quarter. 0.74% of the stock is currently owned by corporate insiders.

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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