Did the Coronavirus Pandemic Help Take Silicon Valley Bank to the Next Level?
The nearly $97 billion asset Silicon Valley Bank (NASDAQ: SIVB) just had a blowout quarter. The bank's stock is now up more than 10% year to date and trading 196% above book value . A lot of the success in the quarter was driven by initial public offerings and venture capital activity in the tech and life sciences sector.
While the bank has always specialized in this niche, the results show just how much the bank could benefit in the future as these sectors begin to further adapt to life in the coronavirus pandemic and after. In fact, the coronavirus pandemic may very well end up taking Silicon Valley Bank to new heights.
Image source: Silicon Valley Bank.
Source Fool.com
