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SVB Financial (SIVB) Stock Soars on Q3 Results

NEW YORK (TheStreet) -- Shares of SVB Financial (SIVB) were jumping 7.21% to $125.27 on heavy trading volume late Friday afternoon after the company posted earnings and revenue that surpassed analysts' estimates for the 2016 third quarter.

After yesterday's closing bell, the Santa Clara, CA-based bank reported earnings of $2.12 per diluted share on revenue of $433.3 million.

Analysts surveyed by FactSet had expected earnings of $1.72 per share on revenue of $393.4 million.

Average loan balances increased 2.5% to $18.6 billion from the second quarter.

"We delivered a...