Insider Selling: Marc J. Verissimo Sells 7,386 Shares of SVB Financial Group Stock (SIVB)
SVB Financial Group (NASDAQ:SIVB) Insider Marc J. Verissimo sold 7,386 shares of SVB Financial Group stock on the open market in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $105.37, for a total transaction of $778,262.82. Following the completion of the transaction, the insider now directly owns 17,373 shares in the company, valued at approximately $1,830,593. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
SVB Financial Group (NASDAQ:SIVB) traded up 0.53% on Thursday, hitting $106.92. The stock had a trading volume of 241,136 shares. SVB Financial Group has a 52-week low of $79.54 and a 52-week high of $135.00. The stock’s 50-day moving average is $110.9 and its 200-day moving average is $114.. The company has a market cap of $5.424 billion and a P/E ratio of 18.67.
SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, July 24th. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.88 by $0.16. During the same quarter in the previous year, the company posted $1.06 earnings per share. Analysts expect that SVB Financial Group will post $5.50 EPS for the current fiscal year.
SIVB has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods raised their price target on shares of SVB Financial Group from $120.00 to $130.00 in a research note on Tuesday, July 29th. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of SVB Financial Group in a research note on Friday, July 25th. They now have a $140.00 price target on the stock, up previously from $135.00. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of SVB Financial Group in a research note on Friday, July 25th. They now have a $123.00 price target on the stock, up previously from $121.00. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $124.85.
SVB Financial Group (NASDAQ:SIVB) is a diversified financial services company, as well as a bank holding company and financial holding company.
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