SVB Financial Group (SIVB) Releases Quarterly Earnings Results
SVB Financial Group (NASDAQ:SIVB) announced its earnings results on Thursday. The company reported $1.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.10 by $0.17, Analyst RN reports. During the same quarter in the previous year, the company posted $1.12 earnings per share.
Shares of SVB Financial Group (NASDAQ:SIVB) traded down 1.17% during mid-day trading on Thursday, hitting $110.26. 483,574 shares of the company’s stock traded hands. SVB Financial Group has a 52 week low of $60.50 and a 52 week high of $111.70. The stock’s 50-day moving average is $103.3 and its 200-day moving average is $93.49. The company has a market cap of $5.035 billion and a P/E ratio of 24.53.
A number of analysts have recently weighed in on SIVB shares. Analysts at Zacks reiterated a “neutral” rating on shares of SVB Financial Group in a research note to investors on Wednesday, January 15th. They now have a $108.00 price target on the stock. On a related note, analysts at Jefferies Group raised their price target on shares of SVB Financial Group from $85.00 to $93.00 in a research note to investors on Tuesday, October 29th. They now have a “hold” rating on the stock. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of SVB Financial Group from $100.00 to $110.00 in a research note to investors on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. SVB Financial Group has an average rating of “Hold” and an average price target of $96.33.
SVB Financial Group (NASDAQ:SIVB) is a diversified financial services company, as well as a bank holding company and financial holding company.
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