Los Angeles Capital Management LLC Acquires Shares of 5,741 Silvergate Capital Co. (NYSE:SI)

Los Angeles Capital Management LLC bought a new position in shares of Silvergate Capital Co. (NYSE:SIGet Rating) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 5,741 shares of the company’s stock, valued at approximately $307,000.

Other institutional investors also recently modified their holdings of the company. TimesSquare Capital Management LLC boosted its position in Silvergate Capital by 40.0% in the second quarter. TimesSquare Capital Management LLC now owns 299,913 shares of the company’s stock worth $16,054,000 after purchasing an additional 85,694 shares during the last quarter. Pekin Hardy Strauss Inc. purchased a new position in shares of Silvergate Capital in the 2nd quarter worth about $230,000. Steward Partners Investment Advisory LLC grew its position in Silvergate Capital by 60.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,030 shares of the company’s stock valued at $55,000 after buying an additional 390 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in Silvergate Capital by 41.5% during the second quarter. State of New Jersey Common Pension Fund D now owns 32,273 shares of the company’s stock worth $1,728,000 after buying an additional 9,473 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Silvergate Capital in the second quarter worth about $117,000. 77.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SI has been the subject of a number of research reports. TheStreet raised shares of Silvergate Capital from a “d+” rating to a “c” rating in a research report on Monday, November 7th. Canaccord Genuity Group decreased their target price on Silvergate Capital from $200.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, October 19th. The Goldman Sachs Group cut Silvergate Capital from a “buy” rating to a “neutral” rating and dropped their price target for the company from $108.00 to $64.00 in a research report on Tuesday, October 25th. BTIG Research began coverage on Silvergate Capital in a report on Thursday, August 4th. They issued a “buy” rating and a $135.00 price objective for the company. Finally, Wells Fargo & Company dropped their price objective on shares of Silvergate Capital from $50.00 to $25.00 and set an “underweight” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.64.

Silvergate Capital Price Performance

SI stock opened at $34.42 on Friday. The firm has a 50 day moving average of $68.01 and a 200-day moving average of $77.21. The company has a current ratio of 0.25, a quick ratio of 0.19 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.09 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 0.20 and a beta of 2.71. Silvergate Capital Co. has a 12 month low of $26.77 and a 12 month high of $239.26.

Silvergate Capital (NYSE:SIGet Rating) last released its quarterly earnings results on Tuesday, October 18th. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.11). Silvergate Capital had a net margin of 45.10% and a return on equity of 8.85%. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, sell-side analysts predict that Silvergate Capital Co. will post 4.61 earnings per share for the current fiscal year.

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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