Mission Wealth Management LP Purchases Shares of 748 SVB Financial Group (SIVB)

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Mission Wealth Management LP purchased a new stake in SVB Financial Group (NASDAQ:SIVB) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 748 shares of the bank’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its stake in SVB Financial Group by 3.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 304,250 shares of the bank’s stock valued at $87,856,000 after purchasing an additional 10,525 shares during the period. Russell Investments Group Ltd. boosted its stake in SVB Financial Group by 16.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 37,838 shares of the bank’s stock valued at $10,948,000 after purchasing an additional 5,242 shares during the period. CIBC World Markets Inc. boosted its stake in SVB Financial Group by 75.3% during the 2nd quarter. CIBC World Markets Inc. now owns 11,013 shares of the bank’s stock valued at $3,180,000 after purchasing an additional 4,729 shares during the period. Quantitative Systematic Strategies LLC boosted its stake in SVB Financial Group by 70.3% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 11,707 shares of the bank’s stock valued at $3,381,000 after purchasing an additional 4,831 shares during the period. Finally, EFG Asset Management Americas Corp. boosted its stake in SVB Financial Group by 36.9% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 25,223 shares of the bank’s stock valued at $7,283,000 after purchasing an additional 6,803 shares during the period. 90.56% of the stock is owned by institutional investors and hedge funds.

In other news, insider Gregory W. Becker sold 12,872 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $310.97, for a total transaction of $4,002,805.84. Following the sale, the insider now owns 18,039 shares in the company, valued at $5,609,587.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory W. Becker sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were 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 sold a total of 21,109 shares of company stock worth $6,664,724 over the last quarter. Insiders own 0.74% of the company’s stock.

NASDAQ SIVB opened at $320.76 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.60 and a current ratio of 0.60. SVB Financial Group has a 12 month low of $159.44 and a 12 month high of $333.74. The company has a market capitalization of $16.86 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 1.68 and a beta of 1.49.

SVB Financial Group (NASDAQ:SIVB) last released its 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 net margin of 29.56% and a return on equity of 16.47%. The business had revenue of $659.10 million for the quarter, compared to the consensus estimate of $612.75 million. During the same period in the previous year, the firm earned $2.32 EPS. The business’s revenue for the quarter was up 39.9% on a year-over-year basis. research analysts expect that SVB Financial Group will post 17.19 EPS for the current fiscal year.

A number of research analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of SVB Financial Group from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Tuesday, July 31st. SunTrust Banks boosted their target price on shares of SVB Financial Group to $350.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Maxim Group boosted their target price on shares of SVB Financial Group to $365.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Barclays reaffirmed a “hold” rating on shares of SVB Financial Group in a research note on Sunday, July 29th. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of SVB Financial Group in a research note on Friday, July 27th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $352.94.

SVB Financial Group Company Profile

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.

Further Reading: Should you buy a closed-end mutual fund?

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

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