Garen K. Staglin Sells 500 Shares of SVB Financial Group (NASDAQ:SIVB) Stock

SVB Financial Group (NASDAQ:SIVBGet Rating) Director Garen K. Staglin sold 500 shares of the stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $484.41, for a total value of $242,205.00. Following the completion of the transaction, the director now directly owns 13,680 shares of the company’s stock, valued at $6,626,728.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of NASDAQ SIVB traded down $9.18 during mid-day trading on Thursday, reaching $476.68. 7,645 shares of the company’s stock were exchanged, compared to its average volume of 550,146. The firm has a market capitalization of $28.05 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.75 and a beta of 1.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.46 and a current ratio of 0.46. SVB Financial Group has a 52-week low of $419.60 and a 52-week high of $763.22. The company’s 50-day moving average is $491.99 and its 200-day moving average is $585.87.

SVB Financial Group (NASDAQ:SIVBGet Rating) last released its quarterly earnings results on Thursday, April 21st. The bank reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $5.37 by $2.55. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.45 billion. SVB Financial Group had a return on equity of 15.59% and a net margin of 28.80%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $10.03 EPS. As a group, equities analysts predict that SVB Financial Group will post 35.05 earnings per share for the current fiscal year.

SIVB has been the subject of several recent research reports. Morgan Stanley reduced their price objective on SVB Financial Group from $935.00 to $769.00 and set an “overweight” rating for the company in a research note on Monday, March 28th. Argus raised SVB Financial Group from a “hold” rating to a “buy” rating and set a $550.00 price objective for the company in a research note on Wednesday, May 4th. They noted that the move was a valuation call. Piper Sandler reduced their price objective on SVB Financial Group from $725.00 to $700.00 and set an “overweight” rating for the company in a research note on Friday, April 22nd. Zacks Investment Research raised SVB Financial Group from a “hold” rating to a “strong-buy” rating and set a $566.00 price objective for the company in a research note on Wednesday. Finally, StockNews.com initiated coverage on SVB Financial Group in a research note on Thursday, March 31st. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $710.78.

A number of institutional investors have recently made changes to their positions in SIVB. EagleClaw Capital Managment LLC raised its position in SVB Financial Group by 0.7% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 3,371 shares of the bank’s stock valued at $2,180,000 after purchasing an additional 22 shares in the last quarter. Natixis acquired a new stake in SVB Financial Group in the 3rd quarter valued at about $3,069,000. HighTower Advisors LLC raised its position in SVB Financial Group by 1.4% in the 3rd quarter. HighTower Advisors LLC now owns 4,282 shares of the bank’s stock valued at $2,775,000 after purchasing an additional 59 shares in the last quarter. Voya Investment Management LLC raised its position in SVB Financial Group by 4.8% in the 3rd quarter. Voya Investment Management LLC now owns 23,116 shares of the bank’s stock valued at $14,953,000 after purchasing an additional 1,060 shares in the last quarter. Finally, Veritable L.P. acquired a new stake in SVB Financial Group in the 3rd quarter valued at about $226,000. Institutional investors own 88.80% of the company’s stock.

About SVB Financial Group (Get Rating)

SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance, and other financial products and services.

See Also

Insider Buying and Selling by Quarter for SVB Financial Group (NASDAQ:SIVB)

Want More Great Investing Ideas?

Receive News & Ratings for SVB Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVB Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.