BTIG Research Trims Silvergate Capital (NYSE:SI) Target Price to $51.00

Silvergate Capital (NYSE:SIGet Rating) had its price objective reduced by BTIG Research from $135.00 to $51.00 in a report issued on Tuesday, The Fly reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group dropped their target price on shares of Silvergate Capital from $64.00 to $40.00 and set a neutral rating on the stock in a report on Monday, November 14th. Morgan Stanley dropped their target price on shares of Silvergate Capital from $77.00 to $37.00 and set an equal weight rating on the stock in a report on Wednesday, November 16th. Craig Hallum dropped their target price on shares of Silvergate Capital from $100.00 to $36.00 in a report on Monday. Wells Fargo & Company upgraded shares of Silvergate Capital from an underweight rating to an equal weight rating and boosted their target price for the company from $25.00 to $30.00 in a report on Monday. Finally, Wedbush lowered their price target on Silvergate Capital from $85.00 to $70.00 and set an outperform rating for the company in a research report on Monday, November 14th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Silvergate Capital has an average rating of Moderate Buy and a consensus price target of $82.82.

Silvergate Capital Stock Performance

NYSE:SI opened at $25.25 on Tuesday. Silvergate Capital has a twelve month low of $23.20 and a twelve month high of $232.00. The stock has a market cap of $799.42 million, a P/E ratio of 6.54, a price-to-earnings-growth ratio of 0.15 and a beta of 2.71. The company has a quick ratio of 0.18, a current ratio of 0.25 and a debt-to-equity ratio of 0.54. The firm’s fifty day simple moving average is $59.39 and its 200 day simple moving average is $72.37.

Silvergate Capital (NYSE:SIGet Rating) last announced its 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 business had revenue of $89.34 million for the quarter, compared to the consensus estimate of $100.34 million. During the same quarter last year, the firm posted $0.88 EPS. As a group, research analysts predict that Silvergate Capital will post 4.15 EPS for the current year.

Hedge Funds Weigh In On Silvergate Capital

A number of hedge funds have recently bought and sold shares of SI. Bridgewater Associates LP raised its position in Silvergate Capital by 885.8% in the 2nd quarter. Bridgewater Associates LP now owns 587,746 shares of the company’s stock worth $31,462,000 after buying an additional 528,122 shares during the last quarter. BlackRock Inc. raised its position in Silvergate Capital by 18.9% in the 1st quarter. BlackRock Inc. now owns 2,225,537 shares of the company’s stock worth $335,100,000 after buying an additional 354,000 shares during the last quarter. Alyeska Investment Group L.P. raised its position in Silvergate Capital by 439.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 410,344 shares of the company’s stock worth $61,785,000 after buying an additional 334,335 shares during the last quarter. Invesco Ltd. raised its position in Silvergate Capital by 60.0% in the 1st quarter. Invesco Ltd. now owns 860,948 shares of the company’s stock worth $129,632,000 after buying an additional 322,885 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in Silvergate Capital in the 3rd quarter worth about $23,564,000. Hedge funds and other institutional investors 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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Analyst Recommendations for Silvergate Capital (NYSE:SI)

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