SVB Financial Group Expected to Earn Q2 2019 Earnings of $5.26 Per Share (SIVB)
SVB Financial Group (NASDAQ:SIVB) – Equities researchers at SunTrust Banks increased their Q2 2019 earnings per share (EPS) estimates for SVB Financial Group in a research report issued on Tuesday, November 13th. SunTrust Banks analyst J. Demba now anticipates that the bank will post earnings per share of $5.26 for the quarter, up from their prior forecast of $5.07. SunTrust Banks currently has a “Average” rating and a $270.00 target price on the stock. SunTrust Banks also issued estimates for SVB Financial Group’s Q3 2019 earnings at $5.52 EPS, Q4 2019 earnings at $5.68 EPS and FY2019 earnings at $21.66 EPS.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, October 25th. The bank reported $5.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.44 by $0.66. SVB Financial Group had a net margin of 32.44% and a return on equity of 18.39%. The firm had revenue of $703.29 million during the quarter, compared to the consensus estimate of $664.51 million.
Shares of NASDAQ:SIVB opened at $240.34 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 0.14. SVB Financial Group has a one year low of $211.91 and a one year high of $333.74. The firm has a market capitalization of $12.92 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.35 and a beta of 1.68.
SVB Financial Group announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 13th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, Director John F. Robinson sold 500 shares of SVB Financial Group stock in a transaction on Monday, September 10th. The shares were sold at an average price of $324.07, for a total value of $162,035.00. Following the transaction, the director now owns 5,017 shares in the company, valued at approximately $1,625,859.19. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Descheneaux sold 1,750 shares of SVB Financial Group stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $239.73, for a total transaction of $419,527.50. Following the completion of the transaction, the insider now owns 18,289 shares in the company, valued at approximately $4,384,421.97. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Bridges Investment Management Inc. raised its position in SVB Financial Group by 34.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 6,215 shares of the bank’s stock worth $1,931,000 after purchasing an additional 1,584 shares during the period. Ashford Capital Management Inc. grew its holdings in SVB Financial Group by 1.4% in the 3rd quarter. Ashford Capital Management Inc. now owns 89,057 shares of the bank’s stock worth $27,682,000 after acquiring an additional 1,205 shares during the last quarter. Maltese Capital Management LLC grew its holdings in SVB Financial Group by 13.3% in the 3rd quarter. Maltese Capital Management LLC now owns 42,500 shares of the bank’s stock worth $13,210,000 after acquiring an additional 5,000 shares during the last quarter. AQR Capital Management LLC grew its holdings in SVB Financial Group by 77.2% in the 3rd quarter. AQR Capital Management LLC now owns 205,791 shares of the bank’s stock worth $63,966,000 after acquiring an additional 89,651 shares during the last quarter. Finally, HRT Financial LLC bought a new stake in SVB Financial Group in the 3rd quarter worth $492,000. Institutional investors own 87.85% of the company’s stock.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its 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 card account analysis, and disbursement, as well as online and mobile banking services.
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