Insider Selling: SVB Financial Group (SIVB) Director Sells 2,000 Shares of Stock
SVB Financial Group (NASDAQ:SIVB) Director Eric Benhamou sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $172.01, for a total transaction of $344,020.00. Following the sale, the director now directly owns 6,672 shares in the company, valued at approximately $1,147,650.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
SVB Financial Group (NASDAQ:SIVB) traded up 0.97% during midday trading on Wednesday, reaching $168.80. 99,622 shares of the company’s stock were exchanged. SVB Financial Group has a 52 week low of $103.12 and a 52 week high of $198.83. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 20.52 and a beta of 1.61. The firm’s 50 day moving average is $175.01 and its 200 day moving average is $180.22.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, July 27th. The bank reported $2.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.27. SVB Financial Group had a return on equity of 11.27% and a net margin of 24.36%. The business had revenue of $471.70 million for the quarter, compared to analyst estimates of $451.96 million. During the same quarter in the prior year, the firm posted $1.78 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that SVB Financial Group will post $8.99 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Credit Agricole S A boosted its position in SVB Financial Group by 924.5% in the 1st quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock worth $44,547,000 after purchasing an additional 1,018,151 shares in the last quarter. Comerica Bank boosted its position in SVB Financial Group by 0.9% in the 2nd quarter. Comerica Bank now owns 42,407 shares of the bank’s stock worth $7,560,000 after purchasing an additional 365 shares in the last quarter. Karp Capital Management Corp purchased a new stake in SVB Financial Group in the 1st quarter worth approximately $2,853,000. American International Group Inc. boosted its position in SVB Financial Group by 4.1% in the 1st quarter. American International Group Inc. now owns 104,418 shares of the bank’s stock worth $19,431,000 after purchasing an additional 4,133 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its position in SVB Financial Group by 1.7% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 8,530 shares of the bank’s stock worth $1,499,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.
A number of research firms recently issued reports on SIVB. ValuEngine raised shares of SVB Financial Group from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Jefferies Group LLC reissued a “buy” rating and issued a $216.00 price objective on shares of SVB Financial Group in a report on Friday, August 11th. Maxim Group raised their price objective on shares of SVB Financial Group from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, July 31st. BidaskClub downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Finally, Stephens reissued a “buy” rating and issued a $205.00 price objective on shares of SVB Financial Group in a report on Friday, July 28th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. SVB Financial Group currently has a consensus rating of “Buy” and a consensus price target of $202.75.
About SVB Financial Group
SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include 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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