Harbour Capital Advisors LLC Decreases Position in SVB Financial Group (SIVB)
Harbour Capital Advisors LLC cut its position in shares of SVB Financial Group (NASDAQ:SIVB) by 7.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 6,995 shares of the bank’s stock after selling 543 shares during the period. SVB Financial Group comprises 0.9% of Harbour Capital Advisors LLC’s portfolio, making the stock its 28th biggest holding. Harbour Capital Advisors LLC’s holdings in SVB Financial Group were worth $2,174,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of SIVB. Security National Trust Co. bought a new position in SVB Financial Group in the second quarter valued at approximately $116,000. Price Capital Management Inc. bought a new position in SVB Financial Group in the third quarter valued at approximately $124,000. Signaturefd LLC grew its stake in SVB Financial Group by 341.2% in the second quarter. Signaturefd LLC now owns 503 shares of the bank’s stock valued at $145,000 after purchasing an additional 389 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in SVB Financial Group in the third quarter valued at approximately $146,000. Finally, Advisors Preferred LLC bought a new position in SVB Financial Group in the second quarter valued at approximately $167,000. Institutional investors and hedge funds own 87.85% of the company’s stock.
In other SVB Financial Group news, Director John F. Robinson sold 500 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $324.07, for a total transaction of $162,035.00. Following the transaction, the director now owns 5,017 shares in the company, valued at approximately $1,625,859.19. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael Descheneaux sold 1,750 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $239.73, for a total value of $419,527.50. Following the transaction, the insider now owns 18,289 shares in the company, valued at approximately $4,384,421.97. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, October 25th. The bank reported $5.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.44 by $0.66. The business had revenue of $703.29 million during the quarter, compared to analysts’ expectations of $664.51 million. SVB Financial Group had a return on equity of 18.39% and a net margin of 32.44%. As a group, equities research analysts forecast that SVB Financial Group will post 17.93 earnings per share for the current year.
A number of research firms have recently issued reports on SIVB. Royal Bank of Canada reaffirmed a “buy” rating and issued a $355.00 price objective on shares of SVB Financial Group in a research report on Friday, July 27th. BidaskClub cut SVB Financial Group from a “sell” rating to a “strong sell” rating in a research report on Friday, October 26th. SunTrust Banks raised their price objective on SVB Financial Group to $350.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Zacks Investment Research raised SVB Financial Group from a “hold” rating to a “buy” rating and set a $357.00 price objective for the company in a research report on Tuesday, October 9th. Finally, Wedbush raised their price objective on SVB Financial Group from $325.00 to $350.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. SVB Financial Group has a consensus rating of “Buy” and a consensus price target of $349.22.
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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.
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