Silvergate Capital (NYSE:SI) Sees Large Volume Increase

Silvergate Capital Co. (NYSE:SIGet Rating) saw unusually-strong trading volume on Friday . Approximately 72,931 shares traded hands during trading, a decline of 95% from the previous session’s volume of 1,545,748 shares.The stock last traded at $29.46 and had previously closed at $32.68.

Analyst Ratings Changes

SI has been the subject of several analyst reports. Bank of America lowered Silvergate Capital from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $72.00 to $37.00 in a report on Wednesday. Morgan Stanley decreased their price objective on Silvergate Capital from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 19th. Canaccord Genuity Group decreased their price objective on Silvergate Capital from $200.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, October 19th. Craig Hallum decreased their price objective on Silvergate Capital from $160.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 19th. Finally, TheStreet upgraded Silvergate Capital from a “d+” rating to a “c” rating in a report on Monday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $106.64.

Silvergate Capital Trading Up 5.3 %

The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.19 and a current ratio of 0.25. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 0.20 and a beta of 2.71. The business’s 50-day simple moving average is $68.01 and its 200-day simple moving average is $77.21.

Silvergate Capital (NYSE:SIGet Rating) last released its quarterly earnings data on Tuesday, October 18th. The company reported $1.28 EPS for the quarter, missing the consensus estimate 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 period last year, the company posted $0.88 earnings per share. On average, research analysts expect that Silvergate Capital Co. will post 4.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silvergate Capital

Several institutional investors have recently added to or reduced their stakes in the business. Bank of Nova Scotia lifted its position in shares of Silvergate Capital by 27.6% in the first quarter. Bank of Nova Scotia now owns 14,750 shares of the company’s stock valued at $2,221,000 after acquiring an additional 3,190 shares in the last quarter. Advisor Resource Council purchased a new stake in shares of Silvergate Capital during the 2nd quarter valued at approximately $754,000. Park Avenue Securities LLC grew its position in Silvergate Capital by 13.5% during the second quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $355,000 after buying an additional 790 shares during the period. Van ECK Associates Corp raised its stake in shares of Silvergate Capital by 16.6% in the 1st quarter. Van ECK Associates Corp now owns 51,688 shares of the company’s stock valued at $7,782,000 after acquiring an additional 7,360 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Silvergate Capital by 37.7% in the 1st quarter. US Bancorp DE now owns 7,840 shares of the company’s stock valued at $1,180,000 after buying an additional 2,146 shares during the period. 77.65% of the stock is owned by institutional investors and hedge funds.

About Silvergate Capital

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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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