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SVB Financial (SIVB) Stock Slumping on Q1 Results

NEW YORK (TheStreet) -- Shares of SVB Financial Group (SIVB - Get Report) are dropping by 4.63% to $107.55 on heavy trading volume Friday afternoon, following the release of weaker-than-expected results for the 2016 first quarter.

After yesterday's market close, the Santa Clara, CA-based financial and bank holding company posted earnings of $1.52 per diluted share, missing analysts' expectations of $1.67 per share.

Revenue for the period was $367.6 million, which also fell short of Wall Street's estimates of $382 million.

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