We believe management is being overly optimistic, and shares are overvalued.
Silicon Valley Bank reported third-quarter results mostly in line with our expectations, generating $2.12 EPS, an increase of 19% from the previous quarter. Average loan balances grew 2.5% to $18.6 billion quarter over quarter, but the biggest positive of the quarter is that period-end deposits reversed their trend of negative growth, growing 1.6% from the previous quarter. We note that average deposits fell 0.7% from the second quarter. In addition, the bank saw gains in warrants of $21.6 milli...SVB Financial Group is a financial services company, as well as a bank holding company and a financial holding company. The company provides commercial and private banking products and services through its principal subsidiary, Silicon Valley Bank. The company has three segments: Global Commercial Bank, which comprises of its Commercial Bank, its Private Equity Division, SVB Wine, SVB Analytics and its Debt Fund Investments; SVB Private Bank, which provides a range of personal financial solutions for consumers; and SVB Capital, which focuses primarily on funds management.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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