DA Davidson Starts SVB Financial (SIVB) at Neutral; Core Banking Business Working Well, Low Interest Rates a Hindrance
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Price: $75.12 -0.23%
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 24 | New: 24
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 24 | New: 24
Trade SIVB Now!
DA Davidson initiates coverage on SVB Financial (NASDAQ: SIVB) with a Neutral. PT $43.00.
DA analyst says, "Not your everyday $19 billion banking franchise: SIVB is a $19 billion bank franchise with 26 regional offices and 7 international offices. The bank’s focus on the technology and innovation sectors has helped generate loan growth that far outpaces the bank sector, a strong deposit franchise, and during the credit cycle, a very low loss content within its loan portfolio."
"International business development a long-term opportunity. We think SIVB’s increased focus on expanding its reach to new markets (China, England, Israel, and India) could result in long-term benefits in terms of profitability and growth. The company has been active internationally for several years as international relationships have helped grow the domestic business. More recently, SIVB applied for a bank license in the U.K. and a Joint Venture license in China, as well as hired a Managing Director for its Israel franchise."
"Our initial GAAP EPS estimates are $3.73 and $2.60, respectively. On a core-bank basis, our estimates are $2.52 and $2.00."
For more ratings news on SVB Financial click here and for the rating history of SVB Financial click here.
Shares of SVB Financial closed at $37.18 yesterday, with a 52 week range of $35.70-$63.40.
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DA analyst says, "Not your everyday $19 billion banking franchise: SIVB is a $19 billion bank franchise with 26 regional offices and 7 international offices. The bank’s focus on the technology and innovation sectors has helped generate loan growth that far outpaces the bank sector, a strong deposit franchise, and during the credit cycle, a very low loss content within its loan portfolio."
"International business development a long-term opportunity. We think SIVB’s increased focus on expanding its reach to new markets (China, England, Israel, and India) could result in long-term benefits in terms of profitability and growth. The company has been active internationally for several years as international relationships have helped grow the domestic business. More recently, SIVB applied for a bank license in the U.K. and a Joint Venture license in China, as well as hired a Managing Director for its Israel franchise."
"Our initial GAAP EPS estimates are $3.73 and $2.60, respectively. On a core-bank basis, our estimates are $2.52 and $2.00."
For more ratings news on SVB Financial click here and for the rating history of SVB Financial click here.
Shares of SVB Financial closed at $37.18 yesterday, with a 52 week range of $35.70-$63.40.
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