SVB Financial Group (NASDAQ:SIVB) Director John F. Robinson sold 500 shares of SVB Financial Group stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $324.07, for a total transaction of $162,035.00. Following the sale, the director now owns 5,017 shares in the company, valued at $1,625,859.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
SVB Financial Group stock traded down $0.90 during midday trading on Friday, hitting $319.71. The company’s stock had a trading volume of 353,745 shares, compared to its average volume of 530,103. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14. SVB Financial Group has a 12 month low of $180.32 and a 12 month high of $333.74. The stock has a market cap of $16.54 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 1.63 and a beta of 1.48.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, July 26th. The bank reported $4.42 EPS for the quarter, topping the consensus estimate of $3.86 by $0.56. SVB Financial Group had a net margin of 29.56% and a return on equity of 16.47%. The firm had revenue of $659.10 million for the quarter, compared to analysts’ expectations of $612.75 million. During the same period in the previous year, the business earned $2.32 earnings per share. SVB Financial Group’s revenue for the quarter was up 39.9% compared to the same quarter last year. On average, equities analysts predict that SVB Financial Group will post 17.29 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday. Barclays lifted their price objective on shares of SVB Financial Group from $340.00 to $357.00 and gave the company an “equal weight” rating in a research note on Wednesday. ValuEngine cut shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group lifted their price objective on shares of SVB Financial Group to $378.00 and gave the company a “buy” rating in a research note on Monday, August 27th. Finally, Morgan Stanley lifted their price objective on shares of SVB Financial Group from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Tuesday, July 31st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. SVB Financial Group has a consensus rating of “Buy” and a consensus target price of $355.88.
Institutional investors have recently modified their holdings of the business. Security National Trust Co. purchased a new position in SVB Financial Group in the 2nd quarter worth about $116,000. Signaturefd LLC increased its stake in SVB Financial Group by 341.2% in the 2nd quarter. Signaturefd LLC now owns 503 shares of the bank’s stock worth $145,000 after purchasing an additional 389 shares in the last quarter. Smithfield Trust Co. increased its stake in SVB Financial Group by 2,857.1% in the 1st quarter. Smithfield Trust Co. now owns 621 shares of the bank’s stock worth $149,000 after purchasing an additional 600 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its stake in SVB Financial Group by 716.9% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 629 shares of the bank’s stock worth $151,000 after purchasing an additional 552 shares in the last quarter. Finally, Advisors Preferred LLC purchased a new position in SVB Financial Group in the 2nd quarter worth about $167,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit card account analysis, and disbursement, as well as online and mobile banking services.
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