Silvergate Capital (NYSE:SI) Given New $37.00 Price Target at Morgan Stanley

Silvergate Capital (NYSE:SIGet Rating) had its price target reduced by Morgan Stanley from $77.00 to $37.00 in a research note published on Wednesday, The Fly reports. They currently have an equal weight rating on the stock.

SI has been the subject of several other reports. TheStreet raised shares of Silvergate Capital from a d+ rating to a c rating in a research note on Monday, November 7th. Wedbush lowered their price target on shares of Silvergate Capital from $85.00 to $70.00 and set an outperform rating for the company in a research note on Monday, November 14th. BTIG Research started coverage on shares of Silvergate Capital in a research note on Thursday, August 4th. They issued a buy rating and a $135.00 price target for the company. Canaccord Genuity Group decreased their price objective on shares of Silvergate Capital from $200.00 to $150.00 and set a buy rating on the stock in a research report on Wednesday, October 19th. Finally, Canaccord Genuity Group decreased their price objective on shares of 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 given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $99.45.

Silvergate Capital Stock Performance

NYSE SI opened at $24.90 on Wednesday. Silvergate Capital has a 52-week low of $24.45 and a 52-week high of $239.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.18 and a current ratio of 0.25. The company has a market capitalization of $788.33 million, a P/E ratio of 6.45, a P/E/G ratio of 0.17 and a beta of 2.71. The company has a fifty day moving average of $62.12 and a 200-day moving average of $74.00.

Silvergate Capital (NYSE:SIGet Rating) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.17). Silvergate Capital had a return on equity of 8.85% and a net margin of 45.10%. The company had revenue of $89.34 million for the quarter, compared to the consensus estimate of $100.34 million. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, equities research analysts predict that Silvergate Capital will post 4.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SI. Whittier Trust Co. of Nevada Inc. bought a new position in Silvergate Capital during the first quarter valued at approximately $49,000. Parallel Advisors LLC raised its position in Silvergate Capital by 2,350.0% in the first quarter. Parallel Advisors LLC now owns 343 shares of the company’s stock worth $52,000 after acquiring an additional 329 shares during the period. Signaturefd LLC increased its stake in shares of Silvergate Capital by 1,196.3% in the first quarter. Signaturefd LLC now owns 350 shares of the company’s stock worth $53,000 after purchasing an additional 323 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in shares of Silvergate Capital in the first quarter worth $70,000. Finally, CI Investments Inc. purchased a new position in Silvergate Capital during the second quarter valued at $26,000. Institutional investors own 77.65% 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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