SVB Financial Group (NASDAQ:SIVB) – Equities researchers at FIG Partners reduced their FY2018 earnings per share (EPS) estimates for shares of SVB Financial Group in a research note issued on Wednesday. FIG Partners analyst T. Coffey now forecasts that the bank will post earnings per share of $13.15 for the year, down from their previous estimate of $13.26. FIG Partners also issued estimates for SVB Financial Group’s FY2019 earnings at $14.96 EPS.
A number of other equities analysts have also issued reports on SIVB. ValuEngine lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research lowered shares of SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Morgan Stanley restated an “overweight” rating and issued a $213.00 price objective (up from $210.00) on shares of SVB Financial Group in a report on Wednesday, October 4th. Maxim Group restated a “buy” rating and issued a $250.00 price objective (up from $220.00) on shares of SVB Financial Group in a report on Monday, October 30th. Finally, Barclays set a $217.00 price objective on shares of SVB Financial Group and gave the company a “hold” rating in a report on Monday, October 30th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. SVB Financial Group presently has an average rating of “Buy” and an average price target of $222.86.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 EPS for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.50. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. The firm had revenue of $533.40 million for the quarter, compared to analyst estimates of $490.56 million. During the same period in the previous year, the business earned $2.12 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year.
In related news, insider Christopher Edmonds-Waters sold 3,630 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $209.86, for a total transaction of $761,791.80. Following the completion of the transaction, the insider now owns 5,918 shares in the company, valued at $1,241,951.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marc C. Cadieux sold 2,260 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $219.34, for a total transaction of $495,708.40. Following the transaction, the insider now owns 15,971 shares of the company’s stock, valued at approximately $3,503,079.14. The disclosure for this sale can be found here. Insiders have sold 20,291 shares of company stock valued at $4,558,918 in the last 90 days. 0.73% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in SVB Financial Group by 16.5% in the second quarter. BlackRock Inc. now owns 5,287,595 shares of the bank’s stock valued at $929,507,000 after acquiring an additional 748,591 shares during the last quarter. Harding Loevner LP lifted its stake in SVB Financial Group by 209.0% in the third quarter. Harding Loevner LP now owns 4,817,712 shares of the bank’s stock valued at $284,617,000 after acquiring an additional 3,258,700 shares during the last quarter. Vanguard Group Inc. lifted its stake in SVB Financial Group by 4.1% in the second quarter. Vanguard Group Inc. now owns 4,376,567 shares of the bank’s stock valued at $769,356,000 after acquiring an additional 170,941 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in SVB Financial Group by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 2,489,781 shares of the bank’s stock valued at $464,570,000 after acquiring an additional 354,948 shares during the last quarter. Finally, State Street Corp lifted its stake in SVB Financial Group by 13.5% in the second quarter. State Street Corp now owns 2,433,130 shares of the bank’s stock valued at $427,721,000 after acquiring an additional 288,697 shares during the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.
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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.
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