Is Silicon Valley Bank (SVB) a good stock to buy?

SVB Financial Group (SIVB.Q -4.22%), better known as Silicon Valley Bank, is doing even better than the average bank, with a return of 49% so far this year and 234% over the past year. A best-ever quarter in the first period of 2021 underpins the stock's performance, but this story is far from over.

Why did SVB stock go down?

The bank’s stock began plummeting Thursday morning and by the afternoon it was dragging other bank shares down with it as investors began to fear a repeat of the 2007-2008 financial crisis. By Friday morning, trading in SVB shares was halted and it had abandoned efforts to quickly raise capital or find a buyer.

What does SVB stand for?

Silicon Valley Bank ( SVB) is a commercial bank division of First Citizens BancShares. The bank was previously the primary subsidiary of SVB Financial Group, a publicly traded bank holding company that had offices in 15 U.S. states and over a dozen international jurisdictions.

When did SVB Bank start?

The bank launched on October 17, 1983, as a wholly owned subsidiary of Silicon Valley Bancshares (now SVB Financial Group).