Wall Street analysts expect SVB Financial Group (NASDAQ:SIVB) to report $791.86 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for SVB Financial Group’s earnings. The highest sales estimate is $813.70 million and the lowest is $763.00 million. SVB Financial Group reported sales of $701.17 million in the same quarter last year, which indicates a positive year over year growth rate of 12.9%. The business is scheduled to issue its next quarterly earnings report on Thursday, January 23rd.
According to Zacks, analysts expect that SVB Financial Group will report full year sales of $3.26 billion for the current fiscal year, with estimates ranging from $3.22 billion to $3.28 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.27 billion, with estimates ranging from $3.14 billion to $3.42 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for SVB Financial Group.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $5.15 EPS for the quarter, beating the Zacks’ consensus estimate of $4.99 by $0.16. The company had revenue of $814.65 million during the quarter, compared to the consensus estimate of $805.27 million. SVB Financial Group had a return on equity of 20.38% and a net margin of 33.95%. SVB Financial Group’s revenue was up 15.8% on a year-over-year basis. During the same period last year, the business posted $5.10 earnings per share.
A number of analysts recently commented on the company. Wells Fargo & Co decreased their price target on SVB Financial Group from $240.00 to $225.00 and set a “market perform” rating for the company in a research report on Friday, October 25th. ValuEngine raised SVB Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Maxim Group decreased their target price on SVB Financial Group from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, October 25th. BidaskClub raised SVB Financial Group from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley raised their target price on SVB Financial Group from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $260.38.
In other news, insider Michael Descheneaux sold 2,500 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $236.12, for a total value of $590,300.00. Following the completion of the transaction, the insider now directly owns 21,938 shares of the company’s stock, valued at $5,180,000.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marc C. Cadieux sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $224.17, for a total value of $224,170.00. Following the completion of the transaction, the insider now directly owns 13,147 shares of the company’s stock, valued at $2,947,162.99. The disclosure for this sale can be found here. Insiders sold 4,348 shares of company stock valued at $1,005,270 over the last three months. Company insiders own 0.73% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC boosted its holdings in shares of SVB Financial Group by 11.0% in the second quarter. Advisory Services Network LLC now owns 503 shares of the bank’s stock worth $113,000 after acquiring an additional 50 shares during the period. Altman Advisors Inc. boosted its holdings in shares of SVB Financial Group by 0.7% in the second quarter. Altman Advisors Inc. now owns 7,392 shares of the bank’s stock worth $1,660,000 after acquiring an additional 54 shares during the period. Seeyond boosted its holdings in shares of SVB Financial Group by 11.6% in the second quarter. Seeyond now owns 518 shares of the bank’s stock worth $116,000 after acquiring an additional 54 shares during the period. Cim LLC boosted its holdings in shares of SVB Financial Group by 2.9% in the third quarter. Cim LLC now owns 2,873 shares of the bank’s stock worth $600,000 after acquiring an additional 81 shares during the period. Finally, Advisor Partners LLC boosted its holdings in shares of SVB Financial Group by 4.9% in the second quarter. Advisor Partners LLC now owns 1,856 shares of the bank’s stock worth $417,000 after acquiring an additional 87 shares during the period. 91.21% of the stock is owned by hedge funds and other institutional investors.
Shares of SIVB opened at $234.12 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.71 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.40 and a beta of 2.17. The stock has a 50 day moving average of $213.60 and a 200 day moving average of $216.65. SVB Financial Group has a 12 month low of $177.70 and a 12 month high of $263.16.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
Featured Article: Capital Gains
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.