Shell Asset Management Co. Cuts Holdings in Silvergate Capital Co. (NYSE:SI)

Shell Asset Management Co. decreased its stake in Silvergate Capital Co. (NYSE:SIGet Rating) by 12.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,964 shares of the company’s stock after selling 290 shares during the period. Shell Asset Management Co.’s holdings in Silvergate Capital were worth $296,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP grew its stake in Silvergate Capital by 301.1% in the 4th quarter. Marshall Wace LLP now owns 669,340 shares of the company’s stock worth $99,197,000 after buying an additional 502,455 shares in the last quarter. Capital International Investors grew its position in Silvergate Capital by 235.9% during the 4th quarter. Capital International Investors now owns 463,210 shares of the company’s stock valued at $68,648,000 after purchasing an additional 325,310 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Silvergate Capital during the 4th quarter valued at about $38,616,000. Renaissance Technologies LLC purchased a new position in shares of Silvergate Capital in the fourth quarter worth approximately $26,083,000. Finally, Collaborative Holdings Management LP purchased a new position in shares of Silvergate Capital in the fourth quarter worth approximately $18,525,000. Institutional investors own 71.79% of the company’s stock.

Insider Buying and Selling at Silvergate Capital

In related news, CEO Alan J. Lane sold 16,314 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.71% of the company’s stock.

Silvergate Capital Price Performance

NYSE SI opened at $102.42 on Friday. The firm has a market cap of $3.24 billion, a P/E ratio of 29.60, a price-to-earnings-growth ratio of 0.54 and a beta of 3.09. The stock’s 50-day moving average is $72.43 and its two-hundred day moving average is $100.63. Silvergate Capital Co. has a fifty-two week low of $50.65 and a fifty-two week high of $239.26. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.16.

Silvergate Capital (NYSE:SIGet Rating) last posted its earnings results on Tuesday, July 19th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company earned $0.80 earnings per share. On average, analysts anticipate that Silvergate Capital Co. will post 5.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of Silvergate Capital from $100.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, July 12th. BTIG Research initiated coverage on shares of Silvergate Capital in a research note on Thursday. They set a “buy” rating and a $135.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $150.00 target price on shares of Silvergate Capital in a research note on Tuesday, July 19th. JPMorgan Chase & Co. reduced their target price on shares of Silvergate Capital from $200.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Finally, Canaccord Genuity Group upped their price objective on shares of Silvergate Capital from $164.00 to $200.00 in a report on Wednesday, April 20th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Silvergate Capital presently has an average rating of “Moderate Buy” and an average target price of $156.69.

Silvergate Capital Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding SI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silvergate Capital Co. (NYSE:SIGet Rating).

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

Want More Great Investing Ideas?

Receive News & Ratings for Silvergate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silvergate Capital and related companies with MarketBeat.com's FREE daily email newsletter.