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SVB Financial Group Message Board

  • brotherbucks brotherbucks Apr 27, 2001 3:35 PM Flag


    Anyone interested in discussing a financial company that has reported 1st quarter cost of funds of 1.1%(lowest in the country!).Net interest margin of 7.2%-one of the highest in the country! An ROAE of 21.2%,achieved by only the best banks in the country. An ROAE of 2.7%,
    and an efficiency ratio of 44.9%--world class numbers.A Q1 net income 75% of the entire netincome for all of 1999(which was double 1998 net income).It has a PE under 9!
    That stock is SIVB.
    Y'all can wring your hands and moan about some backroom human/computer error,discovered,fixed and reported-and totally written off without missing analysts expectations. As for me, I remain optomistic about one of the finest performing financials in the country.
    Just my opinion, I could be (and frequently am) wrong. Good weekend to all-even the shorts on this board.

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    • Finally, someone understands why the CFO is out. 2.2 mill is a big deal. I believe the CFO was responsible for approving all accounting transactions, but he may tell you otherwise. You don't write off 2 mill that's not a bad debt/loss.

    • I think most of us on this board agree that SVB is a good company. However, you have to wonder a little when the Company's internal control systems allow over $2 million to be paid out in error, and the Company says it's questionable if it can get the money back (hence the writeoff).

      BTW, unless I'm missing something, SVB did not make core earnings expectations unless you exclude the writeoff. Core earnings came in at $0.65 per share (analysts expectations were $0.65 to $0.68 per share) and would have been less had the loss been factored in.

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