Brokerages expect SVB Financial Group (NASDAQ:SIVB – Get Rating) to report $1.69 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for SVB Financial Group’s earnings, with estimates ranging from $1.64 billion to $1.74 billion. SVB Financial Group posted sales of $1.50 billion during the same quarter last year, which would indicate a positive year over year growth rate of 12.7%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that SVB Financial Group will report full-year sales of $7.17 billion for the current fiscal year, with estimates ranging from $7.01 billion to $7.43 billion. For the next year, analysts expect that the firm will post sales of $8.93 billion, with estimates ranging from $8.30 billion to $9.16 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for SVB Financial Group.
SVB Financial Group (NASDAQ:SIVB – Get Rating) last posted its earnings results on Thursday, April 21st. The bank reported $7.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.58 by $2.34. SVB Financial Group had a net margin of 28.80% and a return on equity of 15.59%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the company posted $10.03 EPS. SVB Financial Group’s quarterly revenue was up 13.9% compared to the same quarter last year.
In related news, insider Christopher Edmonds-Waters sold 3,851 shares of the firm’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $595.08, for a total value of $2,291,653.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Michelle Draper sold 269 shares of the firm’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $603.58, for a total value of $162,363.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,995 shares of company stock worth $5,387,559. 0.62% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of SIVB. First Horizon Advisors Inc. increased its holdings in SVB Financial Group by 987.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 87 shares of the bank’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in SVB Financial Group in the fourth quarter worth $25,000. Carroll Investors Inc bought a new stake in SVB Financial Group in the fourth quarter worth $27,000. Charter Oak Capital Management LLC bought a new stake in SVB Financial Group in the fourth quarter worth $28,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in SVB Financial Group in the fourth quarter worth $32,000. 88.80% of the stock is owned by institutional investors and hedge funds.
SIVB stock opened at $512.62 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.46 and a debt-to-equity ratio of 0.20. SVB Financial Group has a 12 month low of $479.10 and a 12 month high of $763.22. The firm has a market cap of $30.15 billion, a P/E ratio of 17.39, a P/E/G ratio of 1.75 and a beta of 1.80. The company’s 50-day moving average price is $541.43 and its two-hundred day moving average price is $633.22.
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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