SVB Financial Group (SIVB) Insider Sells $636,378.00 in Stock
SVB Financial Group (NASDAQ:SIVB) insider Kamran F. Husain sold 2,890 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $220.20, for a total value of $636,378.00. Following the sale, the insider now directly owns 890 shares in the company, valued at $195,978. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.50. The firm had revenue of $533.40 million for the quarter, compared to analyst estimates of $490.56 million. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.12 EPS.
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A number of institutional investors have recently bought and sold shares of SIVB. BDO Wealth Advisors LLC acquired a new stake in SVB Financial Group in the 2nd quarter valued at approximately $109,000. Exane Derivatives acquired a new stake in SVB Financial Group in the 2nd quarter valued at approximately $119,000. Peddock Capital Advisors LLC acquired a new stake in SVB Financial Group in the 2nd quarter valued at approximately $130,000. Whittier Trust Co. of Nevada Inc. increased its holdings in SVB Financial Group by 79.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock valued at $136,000 after purchasing an additional 343 shares during the last quarter. Finally, Global X Management Co. LLC increased its holdings in SVB Financial Group by 58.6% in the 2nd quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock valued at $137,000 after purchasing an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.
Several brokerages have weighed in on SIVB. Zacks Investment Research raised SVB Financial Group from a “hold” rating to a “buy” rating and set a $247.00 price objective on the stock in a research note on Tuesday. Barclays PLC set a $217.00 price objective on SVB Financial Group and gave the stock a “hold” rating in a research note on Monday. Maxim Group reissued a “buy” rating and set a $250.00 price objective (up from $220.00) on shares of SVB Financial Group in a research note on Monday. ValuEngine cut SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $213.00 price objective (up from $210.00) on shares of SVB Financial Group in a research note on Wednesday, October 4th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price 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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