Silvergate Capital (NYSE:SI) Upgraded to “Equal Weight” by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Silvergate Capital (NYSE:SIGet Rating) from an underweight rating to an equal weight rating in a report issued on Monday morning, Marketbeat.com reports. They currently have $30.00 price objective on the stock, up from their prior price objective of $25.00.

A number of other research analysts also recently commented on the company. TheStreet upgraded Silvergate Capital from a d+ rating to a c rating in a research note on Monday, November 7th. Craig Hallum lowered their price objective on Silvergate Capital from $160.00 to $100.00 and set a buy rating for the company in a research note on Wednesday, October 19th. The Goldman Sachs Group decreased their price target on Silvergate Capital from $64.00 to $40.00 and set a neutral rating for the company in a research note on Monday, November 14th. Morgan Stanley decreased their price target on Silvergate Capital from $77.00 to $37.00 and set an equal weight rating for the company in a research note on Wednesday, November 16th. Finally, Wedbush decreased their price target on Silvergate Capital from $85.00 to $70.00 and set an outperform rating for the company in a research note on Monday, November 14th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $90.45.

Silvergate Capital Price Performance

Shares of NYSE SI opened at $24.27 on Monday. Silvergate Capital has a twelve month low of $23.20 and a twelve month high of $239.26. The company has a current ratio of 0.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $768.36 million, a price-to-earnings ratio of 6.29, a price-to-earnings-growth ratio of 0.16 and a beta of 2.71. The business has a 50 day simple moving average of $60.67 and a 200-day simple moving average of $72.97.

Silvergate Capital (NYSE:SIGet Rating) last issued its quarterly earnings data on Tuesday, October 18th. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.88 earnings per share. As a group, equities research analysts expect that Silvergate Capital will post 4.15 earnings per share for the current year.

Institutional Trading of Silvergate Capital

Several institutional investors have recently modified their holdings of SI. Signaturefd LLC lifted its holdings in shares of Silvergate Capital by 1,196.3% during the first quarter. Signaturefd LLC now owns 350 shares of the company’s stock valued at $53,000 after purchasing an additional 323 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in shares of Silvergate Capital during the first quarter valued at $70,000. CI Investments Inc. purchased a new stake in shares of Silvergate Capital during the second quarter valued at $26,000. Antonetti Capital Management LLC purchased a new stake in shares of Silvergate Capital during the second quarter valued at $27,000. Finally, Money Concepts Capital Corp raised its position in Silvergate Capital by 1,948.0% during the second quarter. Money Concepts Capital Corp now owns 512 shares of the company’s stock valued at $27,000 after buying an additional 487 shares during the period. 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.

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