Brokerages Set Silvergate Capital Corporation (NYSE:SI) PT at $18.13

Shares of Silvergate Capital Corporation (NYSE:SI) have received a consensus rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.13.

A number of equities analysts have commented on SI shares. Zacks Investment Research cut Silvergate Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $19.00 target price on shares of Silvergate Capital in a research note on Thursday, April 30th. Finally, ValuEngine upgraded shares of Silvergate Capital from a “sell” rating to a “hold” rating in a report on Sunday, March 15th.

NYSE:SI traded down $1.21 during trading hours on Friday, reaching $13.25. The company’s stock had a trading volume of 1,313,478 shares, compared to its average volume of 146,620. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.42. The firm has a 50-day simple moving average of $14.49 and a 200-day simple moving average of $14.15. Silvergate Capital has a 1 year low of $7.60 and a 1 year high of $16.95.

Silvergate Capital (NYSE:SI) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. The company had revenue of $20.41 million for the quarter, compared to the consensus estimate of $19.00 million. Research analysts anticipate that Silvergate Capital will post 0.5 earnings per share for the current year.

In related news, Director Scott A. Reed purchased 2,200 shares of Silvergate Capital stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $13.80 per share, for a total transaction of $30,360.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Charles Campbell sold 10,922 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $15.21, for a total transaction of $166,123.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,219 shares of company stock valued at $390,742.

Several hedge funds have recently bought and sold shares of SI. State Street Corp raised its stake in Silvergate Capital by 260.3% during the 1st quarter. State Street Corp now owns 80,344 shares of the company’s stock valued at $766,000 after buying an additional 58,044 shares during the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of Silvergate Capital in the first quarter worth $39,000. Invesco Ltd. bought a new stake in shares of Silvergate Capital in the first quarter worth $879,000. Wells Fargo & Company MN increased its position in Silvergate Capital by 1,629.7% during the first quarter. Wells Fargo & Company MN now owns 5,016 shares of the company’s stock valued at $48,000 after acquiring an additional 4,726 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Silvergate Capital by 46.0% in the first quarter. Geode Capital Management LLC now owns 50,856 shares of the company’s stock valued at $485,000 after acquiring an additional 16,017 shares during the period. Hedge funds and other institutional investors own 33.22% of the company’s stock.

About Silvergate Capital

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. It offers deposit products, including interest and noninterest bearing demand accounts, money market and savings accounts, and certificates of deposit accounts.

Further Reading: How To Calculate Debt-to-Equity Ratio

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