'Storm Is Brewing' for Banks
Analysts expect the company to report second-quarter earnings of 85 cents a share, increasing from 78 cents the previous quarter, but declining from 95 cents a year earlier.
Alexopoulos rates SVB Financial Group "Overweight," with a price target of $71, saying his firm expected a "13% annualized increase in
When SVB announces its second-quarter results, Alexopoulos is also looking "for additional color on the launch of a full-service UK branch during 2Q, as well as the pending launch of its joint venture in China."
JPMorgan estimates that SVB will earn $3.32 a share this year, followed by EPS of $3.56 in 2013.
Alexopoulos said that "of our entire coverage universe, management at SIVB has been the most active in working to take its business overseas," with the new London office, "a small presence in Israel and
Interested in more on SVB Financial Group? See TheStreet Ratings' report card for this stock.
The shares trade for twice their tangible book value, according to Worldscope data provided by Thomson Reuters, and for 14.5 times the consensus 2013 EPS estimate of $4.18. The consensus 2012 EPS estimate is $3.65.