SVB Financial Group (NASDAQ:SIVB) posted its quarterly earnings results on Thursday. The bank reported $6.08 EPS for the quarter, topping the consensus estimate of $4.98 by $1.10, Briefing.com reports. The business had revenue of $863.15 million during the quarter, compared to analysts’ expectations of $787.38 million. SVB Financial Group had a net margin of 36.09% and a return on equity of 20.83%. During the same period last year, the company posted $4.42 earnings per share.
Shares of SVB Financial Group stock traded up $10.06 during midday trading on Friday, reaching $234.16. The company had a trading volume of 864,920 shares, compared to its average volume of 514,256. The stock’s fifty day moving average is $218.43. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.48 and a beta of 2.08. SVB Financial Group has a fifty-two week low of $177.70 and a fifty-two week high of $333.74.
In other news, insider Christopher Edmonds-Waters sold 204 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $256.01, for a total transaction of $52,226.04. Following the completion of the sale, the insider now owns 3,494 shares in the company, valued at $894,498.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Philip C. Cox sold 197 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $227.45, for a total value of $44,807.65. Following the sale, the chief operating officer now owns 8,185 shares of the company’s stock, valued at approximately $1,861,678.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,076 shares of company stock worth $1,703,696. 0.73% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC boosted its position in shares of SVB Financial Group by 1.8% during the first quarter. Neuberger Berman Group LLC now owns 855,182 shares of the bank’s stock valued at $190,159,000 after buying an additional 15,374 shares during the last quarter. Geode Capital Management LLC boosted its position in SVB Financial Group by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 713,667 shares of the bank’s stock worth $135,307,000 after purchasing an additional 33,689 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in SVB Financial Group by 71.5% in the first quarter. TimesSquare Capital Management LLC now owns 638,100 shares of the bank’s stock worth $141,888,000 after purchasing an additional 266,100 shares during the last quarter. Northern Trust Corp boosted its position in SVB Financial Group by 1.9% in the first quarter. Northern Trust Corp now owns 552,857 shares of the bank’s stock worth $122,933,000 after purchasing an additional 10,179 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in SVB Financial Group by 74.9% in the fourth quarter. Deutsche Bank AG now owns 526,495 shares of the bank’s stock worth $99,983,000 after purchasing an additional 225,422 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on SIVB shares. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Morgan Stanley raised shares of Dongfeng Motor Group from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 1st. Wedbush lifted their price target on shares of SVB Financial Group from $225.00 to $235.00 and gave the stock a “neutral” rating in a research note on Friday. Stephens decreased their price target on shares of O’Reilly Automotive from $440.00 to $430.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Bank of America set a $275.00 target price on shares of SVB Financial Group and gave the company a “buy” rating in a research note on Friday, April 26th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. SVB Financial Group presently has an average rating of “Buy” and a consensus target price of $281.52.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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