RMB Capital Management LLC Buys 60,568 Shares of SVB Financial Group (NASDAQ:SIVB)

RMB Capital Management LLC grew its stake in SVB Financial Group (NASDAQ:SIVB) by 305.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 80,404 shares of the bank’s stock after purchasing an additional 60,568 shares during the quarter. RMB Capital Management LLC’s holdings in SVB Financial Group were worth $18,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SIVB. Patriot Financial Group Insurance Agency LLC grew its holdings in SVB Financial Group by 3,733.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 115 shares of the bank’s stock worth $25,000 after purchasing an additional 112 shares during the period. Pearl River Capital LLC bought a new position in SVB Financial Group during the second quarter worth about $30,000. NEXT Financial Group Inc bought a new position in SVB Financial Group during the second quarter worth about $33,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in SVB Financial Group during the second quarter worth about $70,000. Finally, Enterprise Trust & Investment Co bought a new position in SVB Financial Group during the second quarter worth about $75,000. Institutional investors own 92.12% of the company’s stock.

Shares of NASDAQ:SIVB traded up $6.25 during trading on Friday, reaching $224.01. 28,062 shares of the stock were exchanged, compared to its average volume of 428,250. SVB Financial Group has a 12 month low of $177.70 and a 12 month high of $330.50. The firm has a market cap of $11.24 billion, a PE ratio of 12.40, a PEG ratio of 1.37 and a beta of 2.14. The stock has a 50-day moving average price of $203.50 and a 200-day moving average price of $224.01. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.12.

SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $6.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $1.10. SVB Financial Group had a return on equity of 21.44% and a net margin of 35.83%. The company had revenue of $863.15 million during the quarter, compared to analysts’ expectations of $787.38 million. During the same quarter in the previous year, the company posted $4.42 earnings per share. On average, sell-side analysts expect that SVB Financial Group will post 21.25 earnings per share for the current fiscal year.

In other news, COO Philip C. Cox sold 197 shares of SVB Financial Group stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 8,185 shares in the company, valued at $1,861,678.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Philip C. Cox sold 350 shares of SVB Financial Group stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $230.80, for a total transaction of $80,780.00. Following the completion of the sale, the chief operating officer now owns 7,909 shares of the company’s stock, valued at $1,825,397.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,547 shares of company stock valued at $1,189,038. Corporate insiders own 0.73% of the company’s stock.

A number of equities analysts recently commented on the company. JMP Securities reduced their price target on SVB Financial Group to $275.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Wedbush lifted their price target on SVB Financial Group from $225.00 to $235.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Barclays reduced their price target on SVB Financial Group from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday. Wells Fargo & Co cut SVB Financial Group from an “outperform” rating to a “market perform” rating and set a $224.59 price target for the company. in a report on Monday, July 1st. Finally, Royal Bank of Canada set a $280.00 price target on SVB Financial Group and gave the stock a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. SVB Financial Group currently has a consensus rating of “Buy” and an average target price of $272.09.

About SVB Financial Group

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 is the definition of market timing?

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.