SVB Financial Group (NASDAQ:SIVB – Get Rating) – Stock analysts at Wedbush lowered their Q1 2023 EPS estimates for shares of SVB Financial Group in a report issued on Friday, April 22nd. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $10.17 per share for the quarter, down from their prior estimate of $10.23. Wedbush currently has a “Outperform” rating and a $675.00 target price on the stock. Wedbush also issued estimates for SVB Financial Group’s Q2 2023 earnings at $11.67 EPS, Q3 2023 earnings at $12.54 EPS and FY2023 earnings at $47.15 EPS.
SVB Financial Group (NASDAQ:SIVB – Get Rating) last announced its earnings results on Thursday, April 21st. The bank reported $7.92 EPS for the quarter, topping the Zacks’ consensus estimate of $5.58 by $2.34. SVB Financial Group had a return on equity of 15.88% and a net margin of 28.80%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm earned $10.03 EPS. SVB Financial Group’s revenue for the quarter was up 13.9% compared to the same quarter last year.
SVB Financial Group stock opened at $541.04 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44. The firm’s 50 day moving average price is $556.63 and its 200-day moving average price is $641.08. SVB Financial Group has a 1 year low of $486.74 and a 1 year high of $763.22. The stock has a market cap of $31.82 billion, a P/E ratio of 18.36, a PEG ratio of 2.05 and a beta of 1.82.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its position in shares of SVB Financial Group by 987.5% in the third quarter. First Horizon Advisors Inc. now owns 87 shares of the bank’s stock worth $25,000 after acquiring an additional 79 shares during the period. EverSource Wealth Advisors LLC purchased a new position in SVB Financial Group in the 4th quarter valued at $25,000. Carroll Investors Inc acquired a new stake in SVB Financial Group during the 4th quarter worth $27,000. Charter Oak Capital Management LLC purchased a new stake in shares of SVB Financial Group during the fourth quarter worth $28,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of SVB Financial Group in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 88.96% of the company’s stock.
In other news, CMO Michelle Draper sold 269 shares of the stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $603.58, for a total value of $162,363.02. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Descheneaux sold 1,975 shares of the firm’s stock in a transaction dated Monday, February 7th. The stock was sold at an average price of $611.55, for a total value of $1,207,811.25. The disclosure for this sale can be found here. Insiders sold a total of 16,607 shares of company stock valued at $9,811,559 over the last quarter. 0.62% of the stock is owned by company insiders.
About SVB Financial Group (Get Rating)
SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance, and other financial products and services.
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