SG Americas Securities LLC Purchases New Position in Silvergate Capital Co. (NYSE:SI)

SG Americas Securities LLC acquired a new position in Silvergate Capital Co. (NYSE:SIGet Rating) during the first quarter, according to its most recent filing with the SEC. The firm acquired 4,329 shares of the company’s stock, valued at approximately $652,000.

Several other hedge funds have also recently made changes to their positions in SI. Charles Schwab Investment Management Inc. boosted its position in Silvergate Capital by 14.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 206,210 shares of the company’s stock valued at $30,561,000 after acquiring an additional 26,415 shares in the last quarter. Strs Ohio purchased a new position in Silvergate Capital during the fourth quarter valued at $237,000. Renaissance Technologies LLC bought a new stake in shares of Silvergate Capital during the 4th quarter valued at $26,083,000. Royce & Associates LP bought a new stake in shares of Silvergate Capital during the 4th quarter valued at $11,963,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Silvergate Capital in the 4th quarter worth about $801,000. 71.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SI has been the topic of several research reports. Canaccord Genuity Group boosted their price objective on shares of Silvergate Capital from $164.00 to $200.00 in a research note on Wednesday, April 20th. TheStreet lowered Silvergate Capital from a “c” rating to a “d+” rating in a research report on Thursday, June 30th. Wedbush reissued an “outperform” rating and issued a $150.00 target price on shares of Silvergate Capital in a report on Tuesday, July 19th. Wells Fargo & Company raised their price target on Silvergate Capital from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Silvergate Capital from $200.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.50.

Silvergate Capital Trading Up 3.1 %

Shares of SI stock opened at $94.54 on Wednesday. The company has a current ratio of 0.23, a quick ratio of 0.16 and a debt-to-equity ratio of 0.53. Silvergate Capital Co. has a 12-month low of $50.65 and a 12-month high of $239.26. The stock has a market capitalization of $2.99 billion, a P/E ratio of 27.32, a P/E/G ratio of 0.53 and a beta of 3.08. The firm’s 50 day moving average is $70.92 and its 200 day moving average is $100.92.

Silvergate Capital (NYSE:SIGet Rating) last released its quarterly earnings results on Tuesday, July 19th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.31. Silvergate Capital had a return on equity of 7.87% and a net margin of 45.70%. During the same period in the prior year, the company posted $0.80 EPS. Research analysts expect that Silvergate Capital Co. will post 5.08 earnings per share for the current year.

Insider Buying and Selling at Silvergate Capital

In related news, CEO Alan J. Lane sold 16,314 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $92.46, for a total value of $1,508,392.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.71% of the company’s stock.

Silvergate Capital Company Profile

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Silvergate Capital Corporation operates as a bank holding company for Silvergate Bank that provides banking products and services to business and individual clients in the United States. The company accepts deposit products, including interest and noninterest bearing demand accounts, money market and savings accounts, and certificates of deposit accounts.

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Institutional Ownership by Quarter for Silvergate Capital (NYSE:SI)

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