SVB Financial Group (NASDAQ:SIVB) is set to announce second quarter earning results on Thursday 23rd July 2020, after market close.
Analysts surveyed by Thomson Reuters are predicting, SIVB to report 2Q20 income of $ 3.11 per share.
For the full year, analysts anticipate top line of $ 3077.13 million, while looking forward to income of $ 12.80 per share bottom line.
Previous Quarter Performance
SVB Financial Group revealed income for the first quarter of $ 2.55 per share, from the revenue of $ 826.07 million. The quarterly earnings reduced 53.13 percent while revenues extended 4.14 percent compared with the same quarter last year.
Street analysts expected SVB Financial Group to report income of $ 3.56 per share on revenue of $ 783.38 million for the first quarter. The bottom line results missed street analysts by $ 1.01 or 28.37 percent, at the same time, top line results outshined analysts by $ 42.69 million or 5.45 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of SIVB was $ 222.00, representing a 74.27 % increase from the 52 week low of $ 127.39 and a 18.07 % decrease over the 52 week high of $ 270.95.
The company has a market capital of $ 11.44 billion and is part of the Financial Services sector and Banks – Regional – US industry.
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Recent Analyst recommendations
On 7th July 2020, maintained by Barclays at Overweight rating, with $ 250.00 target price.
On 15th June 2020, maintained by JPMorgan Chase & Co. at Overweight rating, with $ 245.00 target price.
On 9th June 2020, initiated by Oppenheimer at Outperform rating.
On 8th June 2020, maintained by Morgan Stanley at Overweight rating, with $ 260.00 target price.
Conference Call
SVB Financial Group will be hosting a conference call at 6:00 PM eastern time on 23rd July 2020, to discuss its 2Q20 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.
