SVB Financial Group ( SIVB) of Santa Clara, Calif., grew its commercial and industrial loans by 12% during the fourth quarter, to $2.0 billion, as of Dec 30. Usdin said that the company's overall 22% loan growth in 2011 was "the fastest pace within our coverage universe," led "primarily by C&I, which makes up roughly 85% of total loans. The analyst added that "SIVB's corporate finance client base and buyout finance lending practice has been responsible for much of the growth," and expects the trend to continue in 2012, "given strong client acquisition trends within the corporate finance channel and robust M&A activity in the tech sector." Jefferies analyst Casey Haire has a "Hold" rating on SVB Financial Group, with a $57 price target, and estimates the company will earn $3.15 a share in 2012, followed by EPS of $3.50 in 2013.
SVB Financial Group's shares returned 24% year-to-date, through Wednesday's close at $59.16, following a 10% pullback in 2012. Interested in more on SVB Financial Group? See TheStreet Ratings' report card for this stock.