Insider Selling: Marc J. Verissimo Sells 7,386 Shares of SVB Financial Group Stock (SIVB)
SVB Financial Group (NASDAQ:SIVB) Insider Marc J. Verissimo unloaded 7,386 shares of SVB Financial Group stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $105.37, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
SVB Financial Group (NASDAQ:SIVB) opened at 106.53 on Monday. SVB Financial Group has a 1-year low of $79.54 and a 1-year high of $135.00. The stock has a 50-day moving average of $110.3 and a 200-day moving average of $114.2. The company has a market cap of $5.404 billion and a P/E ratio of 18.72.
SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, July 24th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.16. During the same quarter in the prior year, the company posted $1.06 earnings per share. Analysts expect that SVB Financial Group will post $5.49 EPS for the current fiscal year.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price 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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