Allworth Financial LP Reduces Stock Holdings in SVB Financial Group (NASDAQ:SIVB)

Allworth Financial LP lowered its position in SVB Financial Group (NASDAQ:SIVBGet Rating) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,437 shares of the bank’s stock after selling 43 shares during the quarter. Allworth Financial LP’s holdings in SVB Financial Group were worth $1,358,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of SVB Financial Group by 6.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 349 shares of the bank’s stock worth $195,000 after purchasing an additional 21 shares during the period. Clearstead Advisors LLC lifted its holdings in shares of SVB Financial Group by 6.0% during the first quarter. Clearstead Advisors LLC now owns 390 shares of the bank’s stock worth $218,000 after purchasing an additional 22 shares during the period. Siemens Fonds Invest GmbH lifted its holdings in SVB Financial Group by 3.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 608 shares of the bank’s stock valued at $413,000 after acquiring an additional 23 shares during the period. Advisor Partners LLC lifted its holdings in SVB Financial Group by 1.2% in the first quarter. Advisor Partners LLC now owns 1,884 shares of the bank’s stock valued at $1,054,000 after acquiring an additional 23 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in SVB Financial Group by 73.0% in the first quarter. Valley National Advisers Inc. now owns 64 shares of the bank’s stock valued at $36,000 after acquiring an additional 27 shares during the period. Hedge funds and other institutional investors own 91.48% of the company’s stock.

SVB Financial Group Stock Down 4.7 %

SIVB opened at $342.57 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a market capitalization of $20.24 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.54 and a beta of 1.72. The business has a 50-day moving average of $408.93 and a two-hundred day moving average of $456.54. SVB Financial Group has a 12 month low of $342.15 and a 12 month high of $763.22.

SVB Financial Group (NASDAQ:SIVBGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The bank reported $5.60 EPS for the quarter, missing the consensus estimate of $7.76 by ($2.16). SVB Financial Group had a net margin of 25.58% and a return on equity of 13.43%. During the same period in the previous year, the firm posted $9.09 earnings per share. On average, research analysts expect that SVB Financial Group will post 29.22 earnings per share for the current year.

Wall Street Analyst Weigh In

SIVB has been the subject of a number of recent analyst reports. UBS Group reduced their target price on SVB Financial Group from $625.00 to $430.00 and set a “neutral” rating for the company in a report on Wednesday, July 27th. Keefe, Bruyette & Woods downgraded SVB Financial Group from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $600.00 to $450.00 in a report on Wednesday, August 3rd. Wolfe Research cut their price target on SVB Financial Group from $723.00 to $470.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Maxim Group cut their price target on SVB Financial Group from $1,100.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Finally, Piper Sandler cut their price target on SVB Financial Group to $450.00 in a research note on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, SVB Financial Group presently has a consensus rating of “Moderate Buy” and an average price target of $547.57.

SVB Financial Group Profile

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SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance, and other financial products and services.

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

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