SVB Financial Group
) reached a new 52-week high, touching $80.88 in the last hour of
the trading session on Jun 24, 2013. The closing price of this
regional bank reflected a robust year-to-date return of 38.0%.
The trading volume for the session was 0.5 million shares, higher
than the average of 0.2 million over the last 3 months.
Despite the strong price appreciation, this Zacks Rank #3 (Hold)
stock has plenty of upside left, given its estimate revisions
over the last 60 days for 2013 and expected long-term earnings
growth of 11.0%.
Impressive first-quarter 2013 results, strong capital position
and a declining long-term debt were the primary growth drivers
for SVB Financial.
SVB Financial's first-quarter earnings marginally beat the Zacks
Consensus Estimate. Results benefited from growth in top line,
partially offset by a rise in operating expenses. Improvement in
asset quality as well as capital and profitability ratios, and
stable loan and deposit growth were among the positives.
Further, SVB Financial has been consistently lowering its
long-term debt levels. Reduction in long-term debt will lead to
lower interest expenses, which in turn will boost the top line.
Over the last 60 days, 6 out of 13 estimates for 2013 have been
revised upward, lifting the Zacks Consensus Estimate by 1.1% to
$3.77 per share. However, for 2014, the Zacks Consensus Estimate
fell 1.2% to $3.96 per share over the same time period.
Better performing banks include
Central Pacific Financial Corp.
), all of which carry a Zacks Rank #1 (Strong Buy).
CENTRAL PAC FIN (CPF): Free Stock Analysis
PREFERRED BANK (PFBC): Free Stock Analysis
SVB FINL GP (SIVB): Free Stock Analysis
TRICO BANCSHRS (TCBK): Free Stock Analysis
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