SVB Financial Group (NASDAQ:SIVB) is expected to report third quarter earnings results, after market close, on Thursday 22nd October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 5.14 per share.
Looking ahead, the full year income are expected at $ 15.53 per share on the revenues of $ 3403.03 million.
Previous Quarter Performance
SVB Financial Group revealed income for the second quarter of $ 4.42 per share, from the revenue of $ 881.77 million. The quarterly earnings declined 27.30 percent while revenues increased 2.16 percent compared with the same quarter last year.
Wall street analysts are predicting, SIVB to report 2Q20 income of $ 3.11 per share from revenue of $ 751.12 million. The bottom line results beat street analysts by $ 1.31 or 42.12 percent, at the same time, top line results outshined analysts by $ 130.65 million or 17.39 percent.
Stock Performance
Shares of SVB Financial Group traded up $ 1.45 or 0.53 percent on Wednesday, reaching $ 277.40 with volume of 186.40 thousand shares. SVB Financial Group has traded high as $ 282.38 and has cracked $ 274.07 on the downward trend
The closing price of $ 277.40, representing a 116.62 % increase from the 52 week low of $ 127.39 and a 2.28 % decrease over the 52 week high of $ 282.38.
The company has a market capital of $ 14.36 billion and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 3rd September 2020, maintained by Raymond James at Outperform rating, with $ 297.00 target price.
Conference Call
SVB Financial Group will be hosting a conference call at 6:00 PM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.svb.com
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The 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 and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
