NEW YORK ( TheStreet) -- SVB Financial Group (Nasdaq: SIVB) hit a new 52-week high Friday as it is currently trading at $60.76, above its previous 52-week high of $60.73 with 225,921 shares traded as of 1:56 p.m. ET. Average volume has been 462,700 shares over the past 30 days.

SVB Financial Group has a market cap of $2.6 billion and is part of the financial sector and banking industry. Shares are up 12.6% year to date as of the close of trading on Thursday.

SVB Financial Group, a diversified financial services company, operates as the bank and financial holding company that provides commercial banking and financial products and services. The company has a P/E ratio of 23.2, equal to the average banking industry P/E ratio and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates SVB Financial Group as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, expanding profit margins, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full SVB Financial Group Ratings Report.

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