Marc C. Cadieux Sells 2,260 Shares of SVB Financial Group (SIVB) Stock
SVB Financial Group (NASDAQ:SIVB) insider Marc C. Cadieux sold 2,260 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $219.34, for a total value of $495,708.40. Following the transaction, the insider now owns 15,971 shares in the company, valued at approximately $3,503,079.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
SVB Financial Group (SIVB) opened at $215.06 on Wednesday. SVB Financial Group has a 12 month low of $121.12 and a 12 month high of $223.82. The firm has a market capitalization of $11,330.00, a P/E ratio of 24.43, a PEG ratio of 2.08 and a beta of 1.63. The company has a quick ratio of 0.60, a current ratio of 0.59 and a debt-to-equity ratio of 0.18.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.50. The company had revenue of $533.40 million for the quarter, compared to analysts’ expectations of $490.56 million. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. SVB Financial Group’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 EPS. research analysts forecast that SVB Financial Group will post 9.5 earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the business. BDO Wealth Advisors LLC bought a new stake in SVB Financial Group during the 2nd quarter valued at $109,000. Exane Derivatives bought a new stake in SVB Financial Group during the 2nd quarter valued at $119,000. Peddock Capital Advisors LLC bought a new stake in SVB Financial Group during the 2nd quarter valued at $130,000. Whittier Trust Co. of Nevada Inc. raised its holdings in SVB Financial Group by 79.6% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock valued at $136,000 after acquiring an additional 343 shares during the period. Finally, Global X Management Co. LLC raised its holdings in SVB Financial Group by 58.6% during the 2nd quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock valued at $137,000 after acquiring an additional 289 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on SIVB shares. Barclays PLC reiterated an “equal weight” rating and set a $191.00 target price (up previously from $188.00) on shares of SVB Financial Group in a research note on Wednesday, July 12th. Piper Jaffray Companies reissued a “buy” rating and set a $212.00 price target on shares of SVB Financial Group in a research report on Friday, July 14th. BidaskClub downgraded SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Morgan Stanley reissued an “overweight” rating and set a $213.00 price target (up previously from $210.00) on shares of SVB Financial Group in a research report on Wednesday, October 4th. Finally, Zacks Investment Research downgraded SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $211.83.
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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