SVB Financial Group to Post Q3 2017 Earnings of $2.17 Per Share, Jefferies Group Forecasts (SIVB)
SVB Financial Group (NASDAQ:SIVB) – Equities researchers at Jefferies Group increased their Q3 2017 earnings per share (EPS) estimates for SVB Financial Group in a research report issued on Monday. Jefferies Group analyst C. Haire now expects that the bank will post earnings per share of $2.17 for the quarter, up from their prior forecast of $2.11. Jefferies Group has a “Buy” rating and a $216.00 price objective on the stock. Jefferies Group also issued estimates for SVB Financial Group’s FY2019 earnings at $11.35 EPS.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, July 27th. The bank reported $2.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.27. The firm had revenue of $471.70 million for the quarter, compared to the consensus estimate of $451.96 million. SVB Financial Group had a return on equity of 11.27% and a net margin of 24.36%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 earnings per share.
A number of other research analysts also recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $213.00 price target (up previously from $210.00) on shares of SVB Financial Group in a report on Wednesday, October 4th. Zacks Investment Research downgraded shares of SVB Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. ValuEngine downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Maxim Group increased their price target on shares of SVB Financial Group from $200.00 to $220.00 and gave the company a “buy” rating in a report on Monday, July 31st. Finally, BidaskClub downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $203.00.
SVB Financial Group (SIVB) opened at 188.93 on Wednesday. The stock has a market cap of $9.96 billion, a P/E ratio of 22.96 and a beta of 1.63. The stock has a 50 day moving average price of $175.50 and a 200 day moving average price of $178.19. SVB Financial Group has a 12-month low of $112.00 and a 12-month high of $198.83.
Several large investors have recently modified their holdings of SIVB. BlackRock Inc. increased its position in shares of SVB Financial Group by 16,192.8% during the first quarter. BlackRock Inc. now owns 4,539,004 shares of the bank’s stock worth $844,664,000 after acquiring an additional 4,511,145 shares during the period. Harbour Capital Advisors LLC increased its position in shares of SVB Financial Group by 17,141.0% during the second quarter. Harbour Capital Advisors LLC now owns 1,389,972 shares of the bank’s stock worth $7,907,000 after acquiring an additional 1,381,910 shares during the period. Janus Henderson Group PLC purchased a new position in shares of SVB Financial Group during the second quarter worth approximately $173,726,000. JPMorgan Chase & Co. increased its position in shares of SVB Financial Group by 41.9% during the second quarter. JPMorgan Chase & Co. now owns 2,134,833 shares of the bank’s stock worth $375,282,000 after acquiring an additional 629,917 shares during the period. Finally, State Street Corp increased its position in shares of SVB Financial Group by 13.5% during the second quarter. State Street Corp now owns 2,433,130 shares of the bank’s stock worth $427,721,000 after acquiring an additional 288,697 shares during the period. 92.12% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Philip C. Cox sold 3,024 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $182.80, for a total value of $552,787.20. Following the sale, the insider now directly owns 2,872 shares of the company’s stock, valued at approximately $525,001.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Descheneaux sold 3,500 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $182.07, for a total transaction of $637,245.00. Following the completion of the sale, the insider now directly owns 14,064 shares in the company, valued at $2,560,632.48. The disclosure for this sale can be found here. Insiders sold a total of 8,524 shares of company stock worth $1,534,052 over the last three months. 0.73% of the stock is currently owned by corporate insiders.
About SVB Financial Group
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.
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.