Analysts predict that SVB Financial Group (NASDAQ:SIVB) will announce $1.30 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for SVB Financial Group’s earnings, with the lowest sales estimate coming in at $1.23 billion and the highest estimate coming in at $1.43 billion. SVB Financial Group reported sales of $1.08 billion during the same quarter last year, which would suggest a positive year over year growth rate of 20.4%. The business is scheduled to report its next quarterly earnings report on Thursday, October 28th.
According to Zacks, analysts expect that SVB Financial Group will report full year sales of $5.60 billion for the current financial year, with estimates ranging from $5.42 billion to $5.86 billion. For the next fiscal year, analysts expect that the firm will post sales of $5.82 billion, with estimates ranging from $5.44 billion to $6.94 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow SVB Financial Group.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, July 22nd. The bank reported $9.09 EPS for the quarter, topping the consensus estimate of $6.48 by $2.61. SVB Financial Group had a net margin of 35.74% and a return on equity of 21.67%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm earned $4.42 earnings per share. The firm’s revenue for the quarter was up 68.1% on a year-over-year basis.
Shares of NASDAQ SIVB traded down $17.77 during mid-day trading on Tuesday, hitting $584.44. The stock had a trading volume of 377,695 shares, compared to its average volume of 450,662. The firm has a market cap of $32.98 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 2.39 and a beta of 2.04. The business has a 50 day moving average price of $569.49 and a two-hundred day moving average price of $553.72. SVB Financial Group has a 1 year low of $221.55 and a 1 year high of $608.84. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 0.53.
In other SVB Financial Group news, CMO Michelle Draper sold 172 shares of the business’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $562.25, for a total value of $96,707.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Garen K. Staglin bought 500 shares of the firm’s stock in a transaction on Tuesday, June 22nd. The stock was acquired at an average cost of $553.94 per share, with a total value of $276,970.00. Following the transaction, the director now owns 13,180 shares in the company, valued at approximately $7,300,929.20. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,500 shares of company stock worth $852,500 and sold 19,103 shares worth $11,139,859. Insiders own 0.68% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC increased its position in shares of SVB Financial Group by 9.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 216,458 shares of the bank’s stock valued at $120,444,000 after purchasing an additional 17,967 shares during the last quarter. Sawtooth Solutions LLC purchased a new stake in shares of SVB Financial Group during the 2nd quarter valued at about $429,000. Jefferies Group LLC bought a new position in shares of SVB Financial Group during the 2nd quarter valued at approximately $4,618,000. Advisor Resource Council bought a new position in shares of SVB Financial Group during the 2nd quarter valued at approximately $259,000. Finally, HM Payson & Co. grew its stake in shares of SVB Financial Group by 81.0% during the 2nd quarter. HM Payson & Co. now owns 181 shares of the bank’s stock valued at $101,000 after acquiring an additional 81 shares during the period. 86.54% of the stock is owned by hedge funds and other institutional investors.
SVB Financial Group Company Profile
SVB Financial Group is a holding company, which engages in the provision of banking and financial services. It operates through the following segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. The Global Commercial Bank segment comprises of results from the commercial bank, private equity division, SVB wine, SVB analytics, and debt fund investments.
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