Envestnet Asset Management Inc. Acquires 1,922 Shares of Silvergate Capital Co. (NYSE:SI)

Envestnet Asset Management Inc. boosted its holdings in Silvergate Capital Co. (NYSE:SIGet Rating) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,776 shares of the company’s stock after purchasing an additional 1,922 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of Silvergate Capital worth $2,183,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Silvergate Capital by 18.9% during the first quarter. BlackRock Inc. now owns 2,225,537 shares of the company’s stock valued at $335,100,000 after acquiring an additional 354,000 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Silvergate Capital by 439.9% during the first quarter. Alyeska Investment Group L.P. now owns 410,344 shares of the company’s stock valued at $61,785,000 after acquiring an additional 334,335 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Silvergate Capital by 60.0% during the first quarter. Invesco Ltd. now owns 860,948 shares of the company’s stock valued at $129,632,000 after acquiring an additional 322,885 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Silvergate Capital by 9.3% during the first quarter. Vanguard Group Inc. now owns 2,847,242 shares of the company’s stock valued at $428,709,000 after acquiring an additional 241,988 shares in the last quarter. Finally, Capital International Investors increased its holdings in shares of Silvergate Capital by 48.4% during the first quarter. Capital International Investors now owns 687,409 shares of the company’s stock valued at $103,503,000 after acquiring an additional 224,199 shares in the last quarter. 77.65% of the stock is currently owned by institutional investors.

Silvergate Capital Stock Down 11.0 %

SI stock opened at $27.90 on Friday. The stock’s fifty day simple moving average is $63.52 and its two-hundred day simple moving average is $75.03. The company has a current ratio of 0.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.54. Silvergate Capital Co. has a 1-year low of $26.11 and a 1-year high of $239.26. The stock has a market cap of $883.29 million, a P/E ratio of 7.23, a P/E/G ratio of 0.17 and a beta of 2.71.

Silvergate Capital (NYSE:SIGet Rating) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.17). Silvergate Capital had a net margin of 45.10% and a return on equity of 8.85%. The firm had revenue of $89.34 million for the quarter, compared to analysts’ expectations of $100.34 million. During the same period in the prior year, the company earned $0.88 EPS. Analysts expect that Silvergate Capital Co. will post 4.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wedbush cut their target price on Silvergate Capital from $85.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday. The Goldman Sachs Group cut their target price on Silvergate Capital from $64.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday. Morgan Stanley cut their target price on Silvergate Capital from $77.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday. BTIG Research assumed coverage on Silvergate Capital in a research report on Thursday, August 4th. They set a “buy” rating and a $135.00 target price on the stock. Finally, Canaccord Genuity Group cut their target price on Silvergate Capital from $200.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, October 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.45.

Silvergate Capital 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.

See Also

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

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