SVB Financial Group (NASDAQ:SIVB) – Equities researchers at Wedbush raised their Q3 2017 EPS estimates for shares of SVB Financial Group in a research note issued to investors on Friday. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $2.32 per share for the quarter, up from their previous forecast of $2.21. Wedbush currently has a “Neutral” rating and a $192.00 target price on the stock. Wedbush also issued estimates for SVB Financial Group’s Q4 2017 earnings at $2.45 EPS, FY2017 earnings at $9.00 EPS, Q1 2018 earnings at $2.72 EPS, Q2 2018 earnings at $2.72 EPS, Q3 2018 earnings at $2.73 EPS and Q4 2018 earnings at $2.83 EPS.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.27. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The firm had revenue of $471.70 million for the quarter, compared to analysts’ expectations of $451.96 million. During the same quarter in the prior year, the business earned $1.78 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: This piece was originally reported by BNB Daily and is owned by of BNB Daily. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece can be accessed at https://www.baseball-news-blog.com/2017/08/19/equities-analysts-issue-forecasts-for-svb-financial-groups-q3-2017-earnings-nasdaqsivb-updated-updated.html.
SIVB has been the topic of a number of other research reports. Barclays PLC upped their target price on SVB Financial Group from $178.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, April 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $195.00 price target on shares of SVB Financial Group in a report on Friday, July 14th. Jefferies Group LLC reissued a “buy” rating and issued a $216.00 price target on shares of SVB Financial Group in a report on Sunday, June 11th. Morgan Stanley boosted their price target on SVB Financial Group from $208.00 to $210.00 and gave the company an “overweight” rating in a report on Tuesday, June 6th. Finally, Maxim Group boosted their price target on SVB Financial Group from $200.00 to $220.00 and gave the company a “buy” rating in a report on Monday. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $202.75.
Shares of SVB Financial Group (SIVB) opened at 178.44 on Monday. The firm’s 50-day moving average is $178.91 and its 200-day moving average is $180.69. The company has a market cap of $9.40 billion, a PE ratio of 21.69 and a beta of 1.60. SVB Financial Group has a 1-year low of $96.86 and a 1-year high of $198.83.
A number of hedge funds have recently modified their holdings of SIVB. Teachers Advisors LLC boosted its stake in shares of SVB Financial Group by 14.0% in the fourth quarter. Teachers Advisors LLC now owns 128,661 shares of the bank’s stock valued at $22,086,000 after buying an additional 15,814 shares during the last quarter. Swarthmore Group Inc. acquired a new position in SVB Financial Group during the first quarter worth $14,683,000. Fulton Bank N.A. boosted its position in SVB Financial Group by 1.7% in the first quarter. Fulton Bank N.A. now owns 5,836 shares of the bank’s stock worth $1,086,000 after buying an additional 96 shares in the last quarter. Peregrine Capital Management LLC boosted its position in SVB Financial Group by 7.3% in the first quarter. Peregrine Capital Management LLC now owns 195,467 shares of the bank’s stock worth $35,340,000 after buying an additional 13,251 shares in the last quarter. Finally, Raymond James Trust N.A. acquired a new position in SVB Financial Group during the first quarter worth $273,000. Institutional investors own 95.25% of the company’s stock.
In other SVB Financial Group news, insider Bruce Wallace sold 8,790 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $182.58, for a total value of $1,604,878.20. Following the completion of the sale, the insider now directly owns 14,248 shares in the company, valued at approximately $2,601,399.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael Descheneaux sold 7,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $184.38, for a total value of $1,290,660.00. Following the completion of the sale, the chief financial officer now owns 18,419 shares of the company’s stock, valued at $3,396,095.22. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.
About SVB Financial Group
SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.
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