Jefferies Maintains a 'Hold' on SVB Financial (SIVB); Adjusting Forward Estimates After Q2 Results
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Price: $106.04 --0%
Rating Summary:
11 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 10
Rating Summary:
11 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 10
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Jefferies maintains a 'Hold' on SVB Financial (NASDAQ: SIVB) price target of $68.00 (from $71.00).
Analyst, Casey Haire, said, "2Q results again exceeded expectations this time via venture capital gains, which overcame a rare miss in net interest income. Management upped guidance on loan growth, but left NIM guidance the same, which indicates to us that the company is still benefitting from a healthy tech sector, but still battling low interest rates. Our estimates remain above consensus, but this is not lost on the market with shares at 16x 2013 EPS."
FY12 EPS estimate raised from $3.50 to $3.62, but FY13 lowered from $3.95 to $3.75.
For an analyst ratings summary and ratings history on SVB Financial click here. For more ratings news on SVB Financial click here.
Shares of SVB Financial closed at $59.10 yesterday.
Analyst, Casey Haire, said, "2Q results again exceeded expectations this time via venture capital gains, which overcame a rare miss in net interest income. Management upped guidance on loan growth, but left NIM guidance the same, which indicates to us that the company is still benefitting from a healthy tech sector, but still battling low interest rates. Our estimates remain above consensus, but this is not lost on the market with shares at 16x 2013 EPS."
FY12 EPS estimate raised from $3.50 to $3.62, but FY13 lowered from $3.95 to $3.75.
For an analyst ratings summary and ratings history on SVB Financial click here. For more ratings news on SVB Financial click here.
Shares of SVB Financial closed at $59.10 yesterday.
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