SVB Financial Group (SIVB) to Release Earnings on Thursday
SVB Financial Group (NASDAQ:SIVB) will 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 announced its quarterly earnings results on Thursday, July 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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.
Shares of SVB Financial Group (NASDAQ:SIVB) opened at 114.89 on Tuesday. The stock’s 50 day moving average price is $110.85 and its 200 day moving average price is $104.24. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 17.54 and a beta of 1.63. SVB Financial Group has a one year low of $77.87 and a one year high of $141.75.
Several equities analysts have recently issued reports on the company. Barclays PLC upped their price target on SVB Financial Group from $117.00 to $127.00 and gave the company an “overweight” rating in a research note on Tuesday, October 11th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of SVB Financial Group in a research note on Wednesday, October 12th. Zacks Investment Research raised SVB Financial Group from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research note on Friday, October 7th. JMP Securities initiated coverage on SVB Financial Group in a research note on Friday, September 16th. They issued an “outperform” rating and a $130.00 target price on the stock. Finally, DA Davidson lowered SVB Financial Group from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $132.54.
In related news, insider Bruce Wallace sold 2,300 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $103.25, for a total transaction of $237,475.00. Following the completion of the transaction, the insider now directly owns 13,177 shares in the company, valued at $1,360,525.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael Descheneaux sold 8,378 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $103.21, for a total value of $864,693.38. Following the transaction, the chief financial officer now owns 15,079 shares of the company’s stock, valued at $1,556,303.59. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. purchased a new position in SVB Financial Group during the second quarter worth about $141,000. Jefferies Group LLC increased its position in SVB Financial Group by 10.5% in the second quarter. Jefferies Group LLC now owns 2,459 shares of the company’s stock worth $234,000 after buying an additional 234 shares in the last quarter. Jane Street Group LLC bought a new position in SVB Financial Group during the second quarter worth $291,000. Cubist Systematic Strategies LLC increased its position in SVB Financial Group by 1,572.5% in the second quarter. Cubist Systematic Strategies LLC now owns 3,345 shares of the company’s stock worth $318,000 after buying an additional 3,145 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in SVB Financial Group by 466.2% in the second quarter. Pacer Advisors Inc. now owns 5,073 shares of the company’s stock worth $483,000 after buying an additional 4,177 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.
About SVB Financial Group
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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