Short Interest in Silvergate Capital Co. (NYSE:SI) Rises By 30.1%

Silvergate Capital Co. (NYSE:SIGet Rating) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 3,540,000 shares, a growth of 30.1% from the May 15th total of 2,720,000 shares. Based on an average trading volume of 1,060,000 shares, the short-interest ratio is currently 3.3 days.

SI has been the subject of a number of research reports. Canaccord Genuity Group lifted their price objective on shares of Silvergate Capital from $164.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. Wells Fargo & Company began coverage on shares of Silvergate Capital in a report on Monday. They issued an “overweight” rating and a $120.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $200.00 price target on shares of Silvergate Capital in a report on Wednesday, April 20th. Canaccord Genuity Group boosted their price target on shares of Silvergate Capital from $164.00 to $200.00 in a report on Wednesday, April 20th. Finally, Morgan Stanley began coverage on shares of Silvergate Capital in a report on Thursday, June 9th. They set a “hold” rating and a $88.00 price target for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $181.00.

In other news, COO Kathleen Fraher sold 750 shares of the business’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $130.44, for a total value of $97,830.00. Following the sale, the chief operating officer now directly owns 10,847 shares of the company’s stock, valued at approximately $1,414,882.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.71% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in SI. Point72 Hong Kong Ltd acquired a new stake in Silvergate Capital in the 3rd quarter valued at about $27,000. Penserra Capital Management LLC acquired a new stake in shares of Silvergate Capital during the 3rd quarter worth about $27,000. Riggs Asset Managment Co. Inc. boosted its stake in shares of Silvergate Capital by 152.8% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 182 shares of the company’s stock worth $27,000 after purchasing an additional 110 shares during the last quarter. GPS Wealth Strategies Group LLC acquired a new stake in shares of Silvergate Capital during the 1st quarter worth about $30,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of Silvergate Capital by 350.0% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 225 shares of the company’s stock worth $34,000 after purchasing an additional 175 shares during the last quarter. Institutional investors own 71.79% of the company’s stock.

SI stock opened at $61.35 on Thursday. The company has a fifty day moving average price of $96.22 and a 200 day moving average price of $121.08. Silvergate Capital has a 12 month low of $56.15 and a 12 month high of $239.26. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 0.52 and a beta of 2.61. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.16.

Silvergate Capital (NYSE:SIGet Rating) last announced its quarterly earnings data on Tuesday, April 19th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.33. The company had revenue of $59.95 million during the quarter, compared to the consensus estimate of $54.89 million. Silvergate Capital had a net margin of 45.57% and a return on equity of 7.87%. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, analysts anticipate that Silvergate Capital will post 4.19 earnings per share for the current year.

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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