SVB Financial Group (SIVB) Set to Announce Earnings on Thursday
SVB Financial Group (NASDAQ:SIVB) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, October 20th. Analysts expect the company to announce earnings of $1.73 per share for the quarter.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings data on Thursday, July 21st. The company reported $1.78 EPS for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.08. SVB Financial Group had a return on equity of 9.90% and a net margin of 22.00%. On average, analysts expect SVB Financial Group to post $6.84 EPS for the current fiscal year and $7.97 EPS for the next fiscal year.
SVB Financial Group (NASDAQ:SIVB) opened at 114.81 on Wednesday. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 17.53 and a beta of 1.63. The firm’s 50-day moving average price is $111.00 and its 200-day moving average price is $104.33. SVB Financial Group has a 1-year low of $77.87 and a 1-year high of $141.75.
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A number of brokerages have recently weighed in on SIVB. Royal Bank Of Canada restated a “buy” rating on shares of SVB Financial Group in a research note on Thursday, June 23rd. Barclays PLC boosted their target price on SVB Financial Group from $117.00 to $127.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 11th. JPMorgan Chase & Co. restated a “buy” rating on shares of SVB Financial Group in a research note on Saturday, July 9th. Zacks Investment Research downgraded SVB Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 7th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of SVB Financial Group in a research note on Wednesday, October 12th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $132.54.
In other SVB Financial Group news, Director Eric Benhamou sold 2,000 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $106.38, for a total transaction of $212,760.00. Following the sale, the director now owns 11,897 shares in the company, valued at $1,265,602.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruce Wallace sold 2,300 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $103.25, for a total value of $237,475.00. Following the sale, the insider now owns 13,177 shares in the company, valued at approximately $1,360,525.25. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.
Large investors have recently bought and sold shares of the company. State Street Corp increased its stake in SVB Financial Group by 5.4% in the second quarter. State Street Corp now owns 2,344,688 shares of the company’s stock valued at $223,128,000 after buying an additional 120,360 shares in the last quarter. American Century Companies Inc. boosted its position in SVB Financial Group by 31.4% in the second quarter. American Century Companies Inc. now owns 478,729 shares of the company’s stock valued at $45,556,000 after buying an additional 114,499 shares during the last quarter. BlackRock Fund Advisors boosted its position in SVB Financial Group by 5.2% in the second quarter. BlackRock Fund Advisors now owns 1,912,317 shares of the company’s stock valued at $181,976,000 after buying an additional 94,950 shares during the last quarter. Quantum Capital Management purchased a new position in SVB Financial Group during the second quarter valued at $8,774,000. Finally, BlackRock Institutional Trust Company N.A. boosted its position in SVB Financial Group by 4.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,535,587 shares of the company’s stock valued at $146,126,000 after buying an additional 58,923 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.
SVB Financial Group Company Profile
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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