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SIVB - Why Shares of SVB Financial Group Are Rising Today
SVB Financial Group
Shares of SVB Financial Group (NASDAQ: SIVB) , the parent company of Silicon Valley Bank, traded more than 11% higher as of 1:15 p.m. ET today after the company recently announced earnings results for the first quarter of 2022.
SVB reported diluted earnings per common share of $7.92 on close to $1.6 billion of revenue. Both numbers beat analyst estimates, with a big beat on earnings.