SVB Financial Group to Post Q4 2016 Earnings of $1.60 Per Share, Jefferies Group Forecasts (SIVB)
SVB Financial Group (NASDAQ:SIVB) – Stock analysts at Jefferies Group decreased their Q4 2016 EPS estimates for shares of SVB Financial Group in a research report issued to clients and investors on Tuesday. Jefferies Group analyst C. Haire now expects that the brokerage will post earnings of $1.60 per share for the quarter, down from their previous forecast of $1.61. Jefferies Group also issued estimates for SVB Financial Group’s Q1 2017 earnings at $1.79 EPS, Q2 2017 earnings at $1.89 EPS, Q3 2017 earnings at $1.86 EPS and Q4 2017 earnings at $1.96 EPS.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, July 21st. The company reported $1.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.08. SVB Financial Group had a return on equity of 9.90% and a net margin of 22.00%.
A number of other equities research analysts have also recently commented on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of SVB Financial Group in a report on Wednesday. Barclays PLC lifted their price target on shares of SVB Financial Group from $117.00 to $127.00 and gave the stock an “overweight” rating in a report on Tuesday. Zacks Investment Research raised shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a report on Friday, October 7th. JMP Securities assumed coverage on shares of SVB Financial Group in a report on Friday, September 16th. They issued an “outperform” rating and a $130.00 price target on the stock. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of SVB Financial Group in a report on Tuesday, August 2nd. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $132.54.
Shares of SVB Financial Group (NASDAQ:SIVB) traded down 3.90% during midday trading on Thursday, hitting $113.46. The company’s stock had a trading volume of 308,423 shares. The stock’s 50 day moving average is $109.93 and its 200-day moving average is $103.93. The firm has a market cap of $5.90 billion, a P/E ratio of 17.32 and a beta of 1.63. SVB Financial Group has a 52-week low of $77.87 and a 52-week high of $141.75.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services Inc raised its position in shares of SVB Financial Group by 0.5% in the first quarter. Commonwealth Equity Services Inc now owns 2,836 shares of the company’s stock valued at $289,000 after buying an additional 14 shares during the period. Aperio Group LLC raised its stake in SVB Financial Group by 82.2% in the first quarter. Aperio Group LLC now owns 11,545 shares of the company’s stock valued at $1,178,000 after buying an additional 5,210 shares during the last quarter. Virginia Retirement System acquired a new stake in SVB Financial Group during the first quarter valued at about $735,000. Ngam Advisors L.P. acquired a new stake in SVB Financial Group during the first quarter valued at about $2,980,000. Finally, BlackRock Inc. raised its stake in SVB Financial Group by 12.4% in the first quarter. BlackRock Inc. now owns 27,844 shares of the company’s stock valued at $2,841,000 after buying an additional 3,073 shares during the last quarter. Institutional investors own 92.23% of the company’s stock.
In related news, CFO Michael Descheneaux sold 8,378 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $103.21, for a total value of $864,693.38. Following the completion of the transaction, the chief financial officer now directly owns 15,079 shares in the company, valued at $1,556,303.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruce Wallace sold 2,300 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $103.25, for a total transaction of $237,475.00. Following the completion of the transaction, the insider now owns 13,177 shares of the company’s stock, valued at $1,360,525.25. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by corporate insiders.
About SVB Financial Group
SVB Financial Group (SVB Financial) is a diversified financial services, bank holding and financial holding company. The Company operates through three segments: 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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