Brokers Issue Forecasts for Silvergate Capital Co.’s FY2022 Earnings (NYSE:SI)

Silvergate Capital Co. (NYSE:SIGet Rating) – Analysts at Wedbush dropped their FY2022 EPS estimates for Silvergate Capital in a research report issued to clients and investors on Thursday, November 17th. Wedbush analyst D. Chiaverini now forecasts that the company will post earnings per share of $3.85 for the year, down from their prior estimate of $4.30. Wedbush has a “Outperform” rating and a $70.00 price objective on the stock. The consensus estimate for Silvergate Capital’s current full-year earnings is $4.15 per share. Wedbush also issued estimates for Silvergate Capital’s Q4 2022 earnings at $0.66 EPS, Q1 2023 earnings at $0.55 EPS, Q2 2023 earnings at $0.64 EPS, Q3 2023 earnings at $0.74 EPS, FY2023 earnings at $2.75 EPS, FY2024 earnings at $4.25 EPS and FY2025 earnings at $5.50 EPS.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley cut their price target on shares of Silvergate Capital from $77.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 16th. BTIG Research started coverage on Silvergate Capital in a research report on Thursday, August 4th. They set a “buy” rating and a $135.00 price target for the company. The Goldman Sachs Group lowered their price target on Silvergate Capital from $64.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, November 14th. TheStreet raised Silvergate Capital from a “d+” rating to a “c” rating in a report on Monday, November 7th. Finally, Canaccord Genuity Group lowered their target price on shares of Silvergate Capital from $200.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, October 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.45.

Silvergate Capital Stock Performance

Shares of SI stock opened at $24.90 on Monday. The firm has a market cap of $788.31 million, a PE ratio of 6.45, a P/E/G ratio of 0.15 and a beta of 2.71. Silvergate Capital has a 12 month low of $24.45 and a 12 month high of $239.26. The company’s fifty day simple moving average is $62.12 and its 200-day simple moving average is $73.60. The company has a quick ratio of 0.18, a current ratio of 0.25 and a debt-to-equity ratio of 0.54.

Silvergate Capital (NYSE:SIGet Rating) last issued its quarterly earnings data on Tuesday, October 18th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.17). The company had revenue of $89.34 million for the quarter, compared to the consensus estimate of $100.34 million. Silvergate Capital had a return on equity of 8.85% and a net margin of 45.10%. During the same period in the prior year, the company earned $0.88 EPS.

Institutional Trading of Silvergate Capital

A number of hedge funds have recently modified their holdings of the stock. Arizona State Retirement System boosted its stake in Silvergate Capital by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 8,239 shares of the company’s stock valued at $441,000 after purchasing an additional 160 shares during the period. X Square Capital LLC grew its stake in shares of Silvergate Capital by 1.5% in the second quarter. X Square Capital LLC now owns 13,798 shares of the company’s stock valued at $738,000 after acquiring an additional 200 shares in the last quarter. Prospera Financial Services Inc increased its position in Silvergate Capital by 45.1% during the second quarter. Prospera Financial Services Inc now owns 676 shares of the company’s stock worth $36,000 after acquiring an additional 210 shares during the period. Commonwealth Equity Services LLC raised its stake in Silvergate Capital by 1.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 13,665 shares of the company’s stock worth $731,000 after purchasing an additional 211 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in Silvergate Capital by 22.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,269 shares of the company’s stock worth $96,000 after purchasing an additional 234 shares in the last quarter. Institutional investors and hedge funds own 77.65% of the company’s stock.

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.

Further Reading

Earnings History and Estimates for Silvergate Capital (NYSE:SI)

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