SVB Financial Group (NASDAQ:SIVB) CFO Daniel J. Beck sold 4,646 shares of SVB Financial Group stock in a transaction on Monday, June 7th. The shares were sold at an average price of $597.61, for a total value of $2,776,496.06. Following the transaction, the chief financial officer now owns 4,804 shares in the company, valued at $2,870,918.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of SVB Financial Group stock traded down $7.57 during midday trading on Wednesday, hitting $599.26. The company's stock had a trading volume of 11,134 shares, compared to its average volume of 483,750. The stock has a market cap of $32.55 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 2.55 and a beta of 2.07. The company's 50-day simple moving average is $551.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.59 and a quick ratio of 0.59. SVB Financial Group has a 1-year low of $199.70 and a 1-year high of $608.84.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, April 22nd. The bank reported $10.03 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $6.94 by $3.09. The business had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.18 billion. SVB Financial Group had a return on equity of 20.13% and a net margin of 34.63%. SVB Financial Group's revenue was up 69.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.55 earnings per share. On average, analysts forecast that SVB Financial Group will post 28.31 EPS for the current year.
Several large investors have recently made changes to their positions in SIVB. SOA Wealth Advisors LLC. purchased a new stake in shares of SVB Financial Group during the fourth quarter worth $26,000. Veriti Management LLC purchased a new stake in shares of SVB Financial Group during the fourth quarter worth $29,000. IronBridge Private Wealth LLC purchased a new stake in shares of SVB Financial Group during the fourth quarter worth $29,000. Logan Capital Management Inc. purchased a new stake in shares of SVB Financial Group during the first quarter worth $30,000. Finally, Abundance Wealth Counselors purchased a new stake in shares of SVB Financial Group during the first quarter worth $31,000. Institutional investors and hedge funds own 90.00% of the company's stock.
Several brokerages have recently issued reports on SIVB. Maxim Group lifted their price target on SVB Financial Group from $600.00 to $700.00 in a research report on Monday, April 26th. Raymond James reissued an "outperform" rating and set a $600.00 price objective (up from $564.00) on shares of SVB Financial Group in a research note on Thursday, April 29th. Janney Montgomery Scott raised SVB Financial Group from a "neutral" rating to a "buy" rating and set a $600.00 price objective for the company in a research note on Friday, April 23rd. Piper Sandler raised their price objective on SVB Financial Group from $600.00 to $650.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 11th. Finally, Barclays raised their price objective on SVB Financial Group from $550.00 to $575.00 and gave the stock an "equal weight" rating in a research note on Friday, April 23rd. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of "Buy" and a consensus target price of $566.60.
SVB Financial Group Company Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. The 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 solutions comprising term loans, equipment and asset-based loans, revolving lines of credit, and credit card programs, as well as mezzanine lending, acquisition finance, and corporate working capital facilities; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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