Silvergate Capital (NYSE:SI)'s stock had its "buy" rating reissued by investment analysts at Morgan Stanley in a report released on Friday, TipRanks reports. They currently have a $158.00 price objective on the stock. Morgan Stanley's price target points to a potential downside of 2.85% from the company's current price.
SI has been the topic of several other reports. The Goldman Sachs Group initiated coverage on Silvergate Capital in a research note on Monday, June 14th. They set a "neutral" rating and a $120.00 price objective on the stock. Zacks Investment Research cut Silvergate Capital from a "strong-buy" rating to a "sell" rating in a research note on Wednesday, September 22nd. Finally, Wedbush dropped their target price on Silvergate Capital from $175.00 to $160.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $123.67.
Shares of NYSE SI traded up $10.92 on Friday, reaching $162.64. 1,347,673 shares of the company traded hands, compared to its average volume of 1,159,128. Silvergate Capital has a fifty-two week low of $15.40 and a fifty-two week high of $187.86. The company has a 50 day moving average of $114.39 and a 200 day moving average of $113.13. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $4.31 billion, a PE ratio of 74.26 and a beta of 2.60.
Silvergate Capital (NYSE:SI) last released its earnings results on Monday, July 19th. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.51 by $0.29. The company had revenue of $42.45 million during the quarter, compared to analysts' expectations of $36.43 million. Silvergate Capital had a return on equity of 9.22% and a net margin of 40.03%. As a group, research analysts expect that Silvergate Capital will post 2.98 earnings per share for the current year.
In other Silvergate Capital news, Director Dennis S. Frank sold 23,690 shares of the firm's stock in a transaction dated Friday, August 13th. The stock was sold at an average price of $118.32, for a total transaction of $2,803,000.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul D. Colucci sold 10,000 shares of the firm's stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $108.80, for a total value of $1,088,000.00. Following the sale, the director now owns 95,149 shares of the company's stock, valued at $10,352,211.20. The disclosure for this sale can be found here. Insiders sold a total of 110,231 shares of company stock valued at $12,214,913 in the last quarter. 8.50% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors bought a new position in shares of Silvergate Capital in the 1st quarter valued at approximately $26,000. Quantbot Technologies LP bought a new position in shares of Silvergate Capital in the 1st quarter valued at approximately $28,000. IFP Advisors Inc raised its stake in shares of Silvergate Capital by 50.0% in the 3rd quarter. IFP Advisors Inc now owns 270 shares of the company's stock valued at $31,000 after acquiring an additional 90 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Silvergate Capital in the 2nd quarter valued at approximately $31,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Silvergate Capital in the 1st quarter valued at approximately $51,000. 73.71% of the stock is owned by institutional investors.
Silvergate Capital Company Profile
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 and internationally. 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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