SVB Financial Group (SIVB) Expected to Post Earnings of $2.29 Per Share
Analysts predict that SVB Financial Group (NASDAQ:SIVB) will post $2.29 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have made estimates for SVB Financial Group’s earnings. The lowest EPS estimate is $2.11 and the highest is $2.43. SVB Financial Group reported earnings per share of $2.12 during the same quarter last year, which suggests a positive year-over-year growth rate of 8%. The company is expected to issue its next quarterly earnings results on Thursday, October 19th.
According to Zacks, analysts expect that SVB Financial Group will report full-year earnings of $8.96 per share for the current year, with EPS estimates ranging from $8.61 to $9.24. For the next financial year, analysts forecast that the business will post earnings of $11.07 per share, with EPS estimates ranging from $10.37 to $12.02. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for SVB Financial Group.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.27. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The company had revenue of $471.70 million for the quarter, compared to analysts’ expectations of $451.96 million. During the same quarter in the previous year, the business posted $1.78 earnings per share. SVB Financial Group’s quarterly revenue was up 10.2% on a year-over-year basis.
SIVB has been the topic of several analyst reports. Zacks Investment Research lowered SVB Financial Group from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Wedbush reiterated a “neutral” rating and set a $192.00 price target on shares of SVB Financial Group in a report on Tuesday, June 27th. BidaskClub lowered SVB Financial Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 23rd. Barclays PLC reiterated an “equal weight” rating and set a $191.00 price target (up previously from $188.00) on shares of SVB Financial Group in a report on Wednesday, July 12th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $212.00 price target on shares of SVB Financial Group in a report on Friday, July 14th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. SVB Financial Group presently has an average rating of “Buy” and a consensus price target of $202.75.
Shares of SVB Financial Group (SIVB) traded up 1.08% during midday trading on Friday, reaching $162.46. 311,134 shares of the company traded hands. The stock has a 50 day moving average price of $173.61 and a 200 day moving average price of $179.87. SVB Financial Group has a 1-year low of $103.12 and a 1-year high of $198.83. The firm has a market capitalization of $8.56 billion, a PE ratio of 19.74 and a beta of 1.61.
In other news, Director Eric Benhamou sold 2,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $172.01, for a total transaction of $344,020.00. Following the completion of the transaction, the director now directly owns 6,672 shares of the company’s stock, valued at $1,147,650.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Philip C. Cox sold 3,024 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $182.80, for a total value of $552,787.20. Following the transaction, the insider now directly owns 2,872 shares of the company’s stock, valued at $525,001.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,524 shares of company stock valued at $1,534,052. 0.73% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in SIVB. Shell Asset Management Co. acquired a new position in shares of SVB Financial Group during the first quarter worth about $357,000. Canada Pension Plan Investment Board grew its position in shares of SVB Financial Group by 53.5% during the first quarter. Canada Pension Plan Investment Board now owns 13,200 shares of the bank’s stock worth $2,456,000 after buying an additional 4,600 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of SVB Financial Group during the first quarter worth about $117,000. Great West Life Assurance Co. Can grew its position in shares of SVB Financial Group by 6.2% during the first quarter. Great West Life Assurance Co. Can now owns 36,353 shares of the bank’s stock worth $6,764,000 after buying an additional 2,116 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of SVB Financial Group by 18.0% during the first quarter. US Bancorp DE now owns 4,761 shares of the bank’s stock worth $887,000 after buying an additional 726 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.
SVB Financial Group Company Profile
SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include 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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