SVB Financial Group (SIVB) Trading Up 2%
SVB Financial Group (NASDAQ:SIVB) was up 2% on Tuesday . The stock traded as high as $112.42 and last traded at $111.94, with a volume of 386,300 shares trading hands. The stock had previously closed at $109.74.
Several equities research analysts have weighed in on SIVB shares. Maxim Group decreased their price target on shares of SVB Financial Group from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 25th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of SVB Financial Group in a report on Friday, July 22nd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of SVB Financial Group in a report on Monday, July 11th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of SVB Financial Group in a report on Saturday, July 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of SVB Financial Group in a report on Sunday, May 29th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. SVB Financial Group has an average rating of “Buy” and a consensus target price of $130.25.
The stock’s 50 day moving average is $103.04 and its 200 day moving average is $100.44. The company has a market cap of $5.80 billion and a price-to-earnings ratio of 17.01.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, July 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.08. Equities research analysts forecast that SVB Financial Group will post $6.82 EPS for the current year.
In other news, CFO Michael Descheneaux sold 8,378 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $103.21, for a total value of $864,693.38. Following the completion of the transaction, the chief financial officer now owns 15,079 shares in the company, valued at approximately $1,556,303.59. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bruce Wallace sold 2,300 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $103.25, for a total transaction of $237,475.00. Following the completion of the transaction, the insider now owns 13,177 shares of the company’s stock, valued at approximately $1,360,525.25. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in SVB Financial Group stock. BlackRock Advisors LLC increased its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 189.5% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 183,484 shares of the company’s stock after buying an additional 120,101 shares during the period. BlackRock Advisors LLC owned approximately 0.36% of SVB Financial Group worth $21,816,000 at the end of the most recent quarter.
SVB Financial Group (SVB Financial) is a diversified financial services, bank holding and financial holding company. The Company operates through three segments: 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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