Boenning & Scattergood Downgrades SVB Financial (SIVB) to Neutral

Boenning & Scattergood downgraded SVB Financial (NASDAQ: SIVB) from Outperform to Neutral.

The analyst comments, "Given the rally in bank stocks since the fall of 2011, we are cautious on the sector as a whole. That said, we suggest investors with longer time horizons use pullbacks in prices to build positions in names with strong management teams, niches (both geographic and client-focused) that proved resilient economically, excess capital positions, stabilization in credit quality, and/or growth prospects greater than peers. We believe SVB Financial Group exhibits most of these characteristics. However, in our opinion, the share price currently reflects the company’s fundamental position, so we are downgrading shares of SIVB from Outperform to Neutral. All else being equal, we suggest investors buy the shares on any unwarranted decline below the $55.00 level."

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 $64.43 yesterday.

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