Silvergate Capital Co. (NYSE:SI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Silvergate Capital Co. (NYSE:SI – Get Rating) have earned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $158.50.

Several research firms have weighed in on SI. Morgan Stanley dropped their target price on shares of Silvergate Capital from $88.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 12th. Craig Hallum upped their price objective on shares of Silvergate Capital from $150.00 to $160.00 in a report on Wednesday, April 20th. The Goldman Sachs Group dropped their price objective on shares of Silvergate Capital from $100.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Canaccord Genuity Group upped their price objective on shares of Silvergate Capital from $164.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. Finally, Canaccord Genuity Group boosted their target price on shares of Silvergate Capital from $164.00 to $200.00 in a research note on Wednesday, April 20th.

Silvergate Capital Trading Up 1.3 %

NYSE:SI opened at $95.80 on Thursday. Silvergate Capital has a one year low of $50.65 and a one year high of $239.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.16 and a current ratio of 0.23. The firm has a market cap of $3.03 billion, a P/E ratio of 27.69, a P/E/G ratio of 0.52 and a beta of 3.09. The firm has a 50-day simple moving average of $71.41 and a 200-day simple moving average of $100.89.

Silvergate Capital (NYSE:SI – Get Rating) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.82 by $0.31. Silvergate Capital had a net margin of 45.70% and a return on equity of 7.87%. During the same period last year, the company posted $0.80 earnings per share. Equities analysts anticipate that Silvergate Capital will post 5.08 EPS for the current fiscal year.

Insider Transactions at Silvergate Capital

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

Institutional Trading of Silvergate Capital

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Silvergate Capital by 14.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 206,210 shares of the company’s stock valued at $30,561,000 after buying an additional 26,415 shares during the last quarter. Strs Ohio acquired a new stake in Silvergate Capital in the fourth quarter valued at $237,000. Renaissance Technologies LLC acquired a new position in shares of Silvergate Capital during the 4th quarter worth $26,083,000. Royce & Associates LP acquired a new position in shares of Silvergate Capital during the 4th quarter worth $11,963,000. Finally, HighTower Advisors LLC acquired a new position in shares of Silvergate Capital during the 4th quarter worth $801,000. Institutional investors and hedge funds own 71.79% 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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