Wall Street brokerages expect SVB Financial Group (NASDAQ:SIVB) to post $3.82 earnings per share (EPS) for the current quarter, Zacks reports. Eight analysts have issued estimates for SVB Financial Group’s earnings, with estimates ranging from $3.40 to $4.13. SVB Financial Group reported earnings per share of $2.32 in the same quarter last year, which suggests a positive year-over-year growth rate of 64.7%. The company is scheduled to issue its next earnings report on Thursday, July 26th.
According to Zacks, analysts expect that SVB Financial Group will report full year earnings of $15.97 per share for the current financial year, with EPS estimates ranging from $14.63 to $16.94. For the next year, analysts anticipate that the firm will post earnings of $19.31 per share, with EPS estimates ranging from $17.27 to $22.06. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for SVB Financial Group.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, April 26th. The bank reported $3.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.13 by $0.50. SVB Financial Group had a return on equity of 14.53% and a net margin of 26.89%. The business had revenue of $575.38 million for the quarter, compared to analyst estimates of $535.60 million. During the same period last year, the company earned $1.91 EPS.
SIVB has been the topic of several recent analyst reports. JMP Securities lifted their target price on SVB Financial Group from $290.00 to $345.00 and gave the stock a “market outperform” rating in a report on Monday, April 30th. Morgan Stanley lifted their target price on SVB Financial Group from $280.00 to $335.00 and gave the stock an “overweight” rating in a report on Monday, April 30th. BidaskClub lowered SVB Financial Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 30th. SunTrust Banks lifted their target price on SVB Financial Group to $335.00 and gave the stock a “buy” rating in a report on Monday, April 30th. Finally, UBS Group initiated coverage on SVB Financial Group in a report on Thursday, March 22nd. They set a “buy” rating and a $284.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. SVB Financial Group currently has an average rating of “Buy” and a consensus price target of $310.87.
Shares of SVB Financial Group traded down $5.91, hitting $310.17, during midday trading on Tuesday, MarketBeat.com reports. The company had a trading volume of 778,185 shares, compared to its average volume of 449,489. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $16.74 billion, a P/E ratio of 31.30, a P/E/G ratio of 1.80 and a beta of 1.40. SVB Financial Group has a 12 month low of $159.44 and a 12 month high of $329.65.
In other SVB Financial Group news, insider Philip C. Cox sold 1,028 shares of SVB Financial Group stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $303.00, for a total value of $311,484.00. Following the sale, the insider now owns 6,048 shares of the company’s stock, valued at approximately $1,832,544. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gregory W. Becker sold 3,028 shares of SVB Financial Group stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $233.52, for a total value of $707,098.56. The disclosure for this sale can be found here. Insiders sold a total of 9,043 shares of company stock worth $2,581,033 in the last three months. Company insiders own 0.74% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in SIVB. Wagner Wealth Management LLC acquired a new position in SVB Financial Group during the fourth quarter worth approximately $100,000. Smithfield Trust Co. increased its position in SVB Financial Group by 2,857.1% during the first quarter. Smithfield Trust Co. now owns 621 shares of the bank’s stock worth $149,000 after buying an additional 600 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its position in SVB Financial Group by 716.9% during the first quarter. Point72 Asia Hong Kong Ltd now owns 629 shares of the bank’s stock worth $151,000 after buying an additional 552 shares during the last quarter. We Are One Seven LLC acquired a new position in SVB Financial Group during the fourth quarter worth approximately $169,000. Finally, Private Capital Group LLC increased its position in SVB Financial Group by 145.0% during the first quarter. Private Capital Group LLC now owns 735 shares of the bank’s stock worth $176,000 after buying an additional 435 shares during the last quarter. 90.21% of the stock is currently owned by hedge funds and other institutional investors.
SVB Financial Group Company Profile
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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