$452.85 Million in Sales Expected for SVB Financial Group (SIVB) This Quarter
Equities analysts forecast that SVB Financial Group (NASDAQ:SIVB) will post sales of $452.85 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for SVB Financial Group’s earnings. The lowest sales estimate is $442.20 million and the highest is $463.67 million. SVB Financial Group posted sales of $396.11 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.3%. The company is expected to announce its next quarterly earnings report on Thursday, July 20th.
According to Zacks, analysts expect that SVB Financial Group will report full year sales of $452.85 million for the current fiscal year, with estimates ranging from $1.82 billion to $1.90 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.19 billion per share, with estimates ranging from $2.08 billion to $2.27 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for SVB Financial Group.
SVB Financial Group (NASDAQ:SIVB) last released its earnings results on Thursday, April 27th. The bank reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. SVB Financial Group had a return on equity of 10.77% and a net margin of 23.67%. The firm had revenue of $427.65 million for the quarter, compared to analysts’ expectations of $429.13 million. During the same period in the prior year, the firm posted $1.52 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 28th. Stephens reiterated a “buy” rating on shares of SVB Financial Group in a report on Thursday, April 27th. Keefe, Bruyette & Woods set a $191.00 price target on SVB Financial Group and gave the company a “buy” rating in a report on Monday, April 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $216.00 price target on shares of SVB Financial Group in a report on Tuesday, April 4th. Finally, BidaskClub upgraded SVB Financial Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $182.45.
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In other SVB Financial Group news, insider Bruce Wallace sold 8,790 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $182.58, for a total transaction of $1,604,878.20. Following the sale, the insider now owns 14,248 shares in the company, valued at approximately $2,601,399.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Descheneaux sold 7,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $184.38, for a total value of $1,290,660.00. Following the sale, the chief financial officer now owns 18,419 shares in the company, valued at approximately $3,396,095.22. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of SIVB. BlackRock Inc. boosted its position in shares of SVB Financial Group by 16,192.8% in the first quarter. BlackRock Inc. now owns 4,539,004 shares of the bank’s stock valued at $844,664,000 after buying an additional 4,511,145 shares during the period. Credit Agricole S A boosted its position in shares of SVB Financial Group by 924.5% in the first quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock valued at $44,547,000 after buying an additional 1,018,151 shares during the period. FMR LLC boosted its position in shares of SVB Financial Group by 193.3% in the fourth quarter. FMR LLC now owns 766,129 shares of the bank’s stock valued at $131,514,000 after buying an additional 504,929 shares during the period. Norges Bank bought a new position in shares of SVB Financial Group during the fourth quarter valued at about $67,877,000. Finally, Columbus Circle Investors bought a new position in shares of SVB Financial Group during the first quarter valued at about $51,840,000. Institutional investors and hedge funds own 95.82% of the company’s stock.
SVB Financial Group (SIVB) traded up 0.2060% during midday trading on Wednesday, hitting $177.4848. The stock had a trading volume of 54,187 shares. The stock has a market cap of $9.32 billion, a PE ratio of 23.0560 and a beta of 1.55. The company’s 50 day moving average price is $178.46 and its 200-day moving average price is $179.38. SVB Financial Group has a 52-week low of $82.90 and a 52-week high of $198.83.
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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