SVB Financial Group (SIVB) Releases Earnings Results, Beats Estimates By $0.50 EPS
SVB Financial Group (NASDAQ:SIVB) posted its quarterly earnings data on Thursday. The bank reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.50, Briefing.com reports. SVB Financial Group had a return on equity of 14.85% and a net margin of 26.89%. The firm had revenue of $575.38 million during the quarter, compared to analysts’ expectations of $535.60 million. During the same period in the prior year, the business earned $1.91 EPS.
Shares of SIVB stock opened at $305.61 on Friday. The stock has a market cap of $13,612.23, a P/E ratio of 22.13, a P/E/G ratio of 1.67 and a beta of 1.44. SVB Financial Group has a 1-year low of $159.44 and a 1-year high of $306.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.59 and a quick ratio of 0.59.
In other SVB Financial Group news, insider Philip C. Cox sold 1,175 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $252.77, for a total transaction of $297,004.75. Following the completion of the transaction, the insider now owns 4,097 shares of the company’s stock, valued at approximately $1,035,598.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michelle Draper sold 2,510 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $248.95, for a total value of $624,864.50. Following the transaction, the insider now directly owns 7,879 shares of the company’s stock, valued at approximately $1,961,477.05. The disclosure for this sale can be found here. Insiders have sold a total of 11,213 shares of company stock valued at $2,724,673 over the last 90 days. 0.74% of the stock is currently owned by company insiders.
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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