Sterne Agee Increases Estimates for SVB Financial

Sterne Agee has published a report on SVB Financial Group SIVB. In the report, Sterne Agee wrote, "Thoughts on the Shares. We continue to think the longer-term outlook for SIVB shares is very positive, but we have not been more constructive on the name given the valuation and our view that a more bullish thesis requires a view of higher interest rates. In a preview we indicated a favorable disposition to the shares in front of the quarter expecting strong results; 2Q11 results were indeed impressive." Sterne Agee rated SVB Financial a Neutral without providing a price target. SVB Financial closed Friday at $62.50.