Silvergate Capital (NYSE:SI) Price Target Cut to $180.00 by Analysts at The Goldman Sachs Group

Silvergate Capital (NYSE:SIGet Rating) had its price target reduced by The Goldman Sachs Group from $210.00 to $180.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 36.71% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Craig Hallum dropped their target price on Silvergate Capital from $180.00 to $150.00 in a research report on Wednesday, January 19th. Canaccord Genuity Group upped their target price on Silvergate Capital from $164.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America assumed coverage on Silvergate Capital in a research report on Monday, March 21st. They issued a “buy” rating and a $200.00 target price on the stock. Wedbush lowered their price objective on Silvergate Capital from $175.00 to $165.00 in a research report on Wednesday, January 19th. Finally, Zacks Investment Research upgraded Silvergate Capital from a “hold” rating to a “strong-buy” rating and set a $174.00 price objective on the stock in a research report on Wednesday, April 6th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $195.73.

SI opened at $131.67 on Wednesday. Silvergate Capital has a 52-week low of $80.78 and a 52-week high of $239.26. The company has a quick ratio of 0.44, a current ratio of 0.50 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.16 billion, a P/E ratio of 45.56, a price-to-earnings-growth ratio of 0.81 and a beta of 2.46. The firm’s 50-day moving average price is $128.81 and its 200-day moving average price is $146.42.

Silvergate Capital (NYSE:SIGet Rating) last issued its earnings results on Tuesday, April 19th. The company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.33. Silvergate Capital had a return on equity of 7.36% and a net margin of 44.71%. During the same period last year, the company earned $0.55 EPS. On average, research analysts anticipate that Silvergate Capital will post 3.28 EPS for the current fiscal year.

In other news, Director Michael Lempres acquired 500 shares of Silvergate Capital stock in a transaction that occurred on Friday, February 4th. The stock was purchased at an average cost of $112.20 per share, with a total value of $56,100.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Karen F. Brassfield sold 3,000 shares of the stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $113.34, for a total value of $340,020.00. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp increased its stake in shares of Silvergate Capital by 21.4% in the 4th quarter. Van ECK Associates Corp now owns 44,328 shares of the company’s stock worth $6,569,000 after acquiring an additional 7,815 shares during the last quarter. Natixis purchased a new position in shares of Silvergate Capital during the 3rd quarter worth $1,623,000. Strs Ohio purchased a new position in shares of Silvergate Capital during the 4th quarter worth $237,000. UBS Asset Management Americas Inc. grew its holdings in shares of Silvergate Capital by 3.7% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 30,413 shares of the company’s stock worth $3,513,000 after purchasing an additional 1,087 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in shares of Silvergate Capital by 5.1% during the 3rd quarter. GSA Capital Partners LLP now owns 3,929 shares of the company’s stock worth $454,000 after purchasing an additional 191 shares during the period. 83.49% of the stock is owned by institutional investors and hedge funds.

Silvergate Capital Company Profile (Get Rating)

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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