Jefferies Financial Group Brokers Cut Earnings Estimates for SVB Financial Group (NASDAQ:SIVB)
SVB Financial Group (NASDAQ:SIVB – Get Rating) – Investment analysts at Jefferies Financial Group cut their Q2 2022 earnings per share estimates for SVB Financial Group in a research note issued on Monday, June 13th. Jefferies Financial Group analyst C. Haire now anticipates that the bank will earn $7.81 per share for the quarter, down from their previous estimate of $8.08. The consensus estimate for SVB Financial Group’s current full-year earnings is $35.05 per share. Jefferies Financial Group also issued estimates for SVB Financial Group’s Q4 2023 earnings at $11.95 EPS.
SVB Financial Group (NASDAQ:SIVB – Get Rating) last released its earnings results on Thursday, April 21st. The bank reported $7.92 EPS for the quarter, beating the consensus estimate of $5.37 by $2.55. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.45 billion. SVB Financial Group had a return on equity of 15.59% and a net margin of 28.80%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.03 earnings per share.
Several other equities analysts have also commented on the company. Wolfe Research dropped their target price on SVB Financial Group from $723.00 to $470.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Janney Montgomery Scott raised SVB Financial Group from a “neutral” rating to a “buy” rating and set a $875.00 price target for the company in a research report on Friday, April 22nd. downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th. Truist Financial lowered their price target on SVB Financial Group from $800.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, April 25th. Finally, Raymond James decreased their target price on SVB Financial Group from $700.00 to $620.00 in a research report on Friday, May 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, SVB Financial Group presently has an average rating of “Buy” and an average target price of $709.18.
SVB Financial Group stock opened at $402.14 on Tuesday. The firm has a market capitalization of $23.67 billion, a P/E ratio of 13.65, a PEG ratio of 1.58 and a beta of 1.80. The stock has a fifty day moving average price of $485.22 and a 200 day moving average price of $578.47. SVB Financial Group has a 52 week low of $399.61 and a 52 week high of $763.22. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.20.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new position in shares of SVB Financial Group during the 4th quarter worth about $25,000. Carroll Investors Inc acquired a new position in shares of SVB Financial Group in the 4th quarter worth approximately $27,000. Charter Oak Capital Management LLC bought a new stake in SVB Financial Group during the 4th quarter worth approximately $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in SVB Financial Group during the 4th quarter worth approximately $32,000. Finally, McDonald Partners LLC bought a new stake in SVB Financial Group during the 4th quarter worth approximately $33,000. Institutional investors own 88.80% of the company’s stock.
In other news, Director Garen K. Staglin sold 500 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $484.41, for a total value of $242,205.00. Following the completion of the sale, the director now owns 13,680 shares in the company, valued at $6,626,728.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Michelle Draper sold 790 shares of the stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $505.56, for a total value of $399,392.40. Following the completion of the sale, the chief marketing officer now owns 3,279 shares of the company’s stock, valued at approximately $1,657,731.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,840 shares of company stock valued at $919,852. 0.62% of the stock is currently owned by corporate insiders.
About SVB Financial Group (Get Rating)
SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance, and other financial products and services.
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