Brokerages forecast that SVB Financial Group (NASDAQ:SIVB – Get Rating) will report $1.69 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for SVB Financial Group’s earnings, with the highest sales estimate coming in at $1.74 billion and the lowest estimate coming in at $1.64 billion. SVB Financial Group posted sales of $1.50 billion in the same quarter last year, which would indicate a positive year over year growth rate of 12.7%. The business is expected to issue its next earnings results on Monday, January 1st.
On average, analysts expect that SVB Financial Group will report full year sales of $7.19 billion for the current fiscal year, with estimates ranging from $7.01 billion to $7.43 billion. For the next year, analysts forecast that the business will report sales of $8.94 billion, with estimates ranging from $8.30 billion to $9.16 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover SVB Financial Group.
SVB Financial Group (NASDAQ:SIVB – Get Rating) last announced its quarterly earnings results on Thursday, April 21st. The bank reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.37 by $2.55. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.45 billion. SVB Financial Group had a return on equity of 15.59% and a net margin of 28.80%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $10.03 EPS.
Shares of NASDAQ SIVB opened at $427.98 on Wednesday. The company has a market cap of $25.19 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 1.56 and a beta of 1.80. SVB Financial Group has a 12-month low of $419.60 and a 12-month high of $763.22. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $512.41 and its 200 day simple moving average is $604.89.
In other news, CFO Daniel J. Beck sold 2,900 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 transaction of $1,725,732.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,360 shares of company stock worth $4,857,395. 0.62% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of SVB Financial Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 6,346,725 shares of the bank’s stock worth $3,550,675,000 after buying an additional 92,553 shares during the period. BlackRock Inc. boosted its position in shares of SVB Financial Group by 3.0% in the first quarter. BlackRock Inc. now owns 5,302,020 shares of the bank’s stock worth $2,966,216,000 after buying an additional 154,048 shares during the period. State Street Corp boosted its position in shares of SVB Financial Group by 0.7% in the first quarter. State Street Corp now owns 2,932,895 shares of the bank’s stock worth $1,640,808,000 after buying an additional 20,340 shares during the period. Capital International Investors boosted its position in shares of SVB Financial Group by 28.0% in the first quarter. Capital International Investors now owns 2,449,195 shares of the bank’s stock worth $1,370,224,000 after buying an additional 535,924 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of SVB Financial Group by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 2,364,708 shares of the bank’s stock worth $1,322,935,000 after buying an additional 81,377 shares during the period. 88.80% of the stock is owned by institutional investors and hedge funds.
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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