John China Sells 3,023 Shares of SVB Financial Group (SIVB) Stock
SVB Financial Group (NASDAQ:SIVB) insider John China sold 3,023 shares of SVB Financial Group stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $130.00, for a total transaction of $392,990.00. Following the sale, the insider now owns 9,843 shares of the company’s stock, valued at $1,279,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
John China also recently made the following trade(s):
- On Friday, October 28th, John China sold 1,200 shares of SVB Financial Group stock. The shares were sold at an average price of $124.40, for a total transaction of $149,280.00.
Shares of SVB Financial Group (NASDAQ:SIVB) opened at 150.92 on Wednesday. The firm’s 50-day moving average is $121.59 and its 200-day moving average is $107.46. SVB Financial Group has a 12-month low of $77.87 and a 12-month high of $153.39. The firm has a market cap of $7.86 billion, a PE ratio of 21.26 and a beta of 1.44.
SVB Financial Group (NASDAQ:SIVB) last posted its earnings results on Thursday, October 20th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.39. The firm earned $433.50 million during the quarter. SVB Financial Group had a net margin of 22.84% and a return on equity of 10.44%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the company posted $1.57 EPS. Equities analysts expect that SVB Financial Group will post $7.19 earnings per share for the current fiscal year.
SIVB has been the subject of a number of recent analyst reports. Morgan Stanley reiterated a “buy” rating on shares of SVB Financial Group in a research report on Tuesday, August 2nd. Maxim Group lowered their price objective on shares of SVB Financial Group from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Wells Fargo & Co. reissued a “buy” rating on shares of SVB Financial Group in a research note on Friday, July 22nd. Zacks Investment Research raised shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research note on Friday, October 7th. Finally, Barclays PLC lowered shares of SVB Financial Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $127.00 to $130.00 in a research note on Tuesday, November 1st. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $133.08.
Hedge funds have recently bought and sold shares of the company. TimesSquare Capital Management LLC increased its stake in SVB Financial Group by 161.0% in the second quarter. TimesSquare Capital Management LLC now owns 1,250,100 shares of the company’s stock worth $118,960,000 after buying an additional 771,200 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in SVB Financial Group during the third quarter worth about $76,418,000. MD Sass Investors Services Inc. acquired a new stake in SVB Financial Group during the second quarter worth about $40,875,000. Artisan Partners Limited Partnership increased its stake in SVB Financial Group by 41.8% in the second quarter. Artisan Partners Limited Partnership now owns 946,852 shares of the company’s stock worth $90,102,000 after buying an additional 278,963 shares during the period. Finally, Peregrine Capital Management LLC acquired a new stake in SVB Financial Group during the third quarter worth about $24,456,000. 91.92% of the stock is owned by hedge funds and other institutional investors.
About SVB Financial Group
SVB Financial Group (SVB Financial) is a diversified financial services, bank holding and financial holding company. The Company operates through three segments: Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.
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