Insider Selling: Bruce Wallace Sells 2,875 Shares of SVB Financial Group Stock (SIVB)
SVB Financial Group (NASDAQ:SIVB) COO Bruce Wallace sold 2,875 shares of SVB Financial Group stock on the open market in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $107.95, for a total transaction of $310,356.25. Following the completion of the sale, the chief operating officer now directly owns 5,439 shares of the company’s stock, valued at approximately $587,140. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on SIVB shares. 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. SVB Financial Group presently has an average rating of “Buy” and a consensus target price of $124.85.
SVB Financial Group (NASDAQ:SIVB) opened at 109.33 on Friday. 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 $109.4 and its 200-day moving average is $114.0. The company has a market cap of $5.547 billion and a P/E ratio of 19.19.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.88 by $0.16. During the same quarter last year, the company posted $1.06 earnings per share. On average, analysts predict that SVB Financial Group will post $5.49 earnings per share for the current fiscal year.
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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