Silvergate Capital Co. (NYSE:SI) to Post Q1 2024 Earnings of $1.03 Per Share, Wedbush Forecasts

Silvergate Capital Co. (NYSE:SIGet Rating) – Equities researchers at Wedbush issued their Q1 2024 earnings estimates for Silvergate Capital in a research note issued on Wednesday, November 16th. Wedbush analyst D. Chiaverini expects that the company will post earnings per share of $1.03 for the quarter. Wedbush currently has a “Outperform” rating and a $70.00 price target on the stock. The consensus estimate for Silvergate Capital’s current full-year earnings is $4.56 per share. Wedbush also issued estimates for Silvergate Capital’s Q2 2024 earnings at $1.14 EPS and Q3 2024 earnings at $1.29 EPS.

Other research analysts also recently issued research reports about the stock. Morgan Stanley decreased their price objective on shares of Silvergate Capital from $77.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday. BTIG Research began coverage on shares of Silvergate Capital in a research note on Thursday, August 4th. They issued a “buy” rating and a $135.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Silvergate Capital from $50.00 to $25.00 and set an “underweight” rating for the company in a research report on Thursday, November 10th. The Goldman Sachs Group decreased their price target on shares of Silvergate Capital from $64.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Canaccord Genuity Group decreased their price target on shares of Silvergate Capital from $200.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, October 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Silvergate Capital currently has an average rating of “Moderate Buy” and an average target price of $99.45.

Silvergate Capital Stock Down 11.0 %

Silvergate Capital stock opened at $27.90 on Thursday. The company has a market cap of $883.29 million, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 0.17 and a beta of 2.71. Silvergate Capital has a 1-year low of $26.11 and a 1-year high of $239.26. The company has a fifty day simple moving average of $63.52 and a 200 day simple moving average of $75.03. The company has a current ratio of 0.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.54.

Silvergate Capital (NYSE:SIGet Rating) last released its earnings results on Tuesday, October 18th. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.17). The business had revenue of $89.34 million during the quarter, compared to the consensus estimate of $100.34 million. Silvergate Capital had a net margin of 45.10% and a return on equity of 8.85%. During the same period last year, the business posted $0.88 EPS.

Institutional Investors Weigh In On Silvergate Capital

A number of institutional investors have recently modified their holdings of SI. CI Investments Inc. acquired a new position in shares of Silvergate Capital during the 2nd quarter valued at $26,000. Money Concepts Capital Corp raised its holdings in Silvergate Capital by 1,948.0% during the second quarter. Money Concepts Capital Corp now owns 512 shares of the company’s stock worth $27,000 after buying an additional 487 shares during the last quarter. Antonetti Capital Management LLC acquired a new position in Silvergate Capital during the second quarter worth $27,000. Newbridge Financial Services Group Inc. raised its holdings in Silvergate Capital by 155.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 575 shares of the company’s stock worth $31,000 after buying an additional 350 shares during the last quarter. Finally, Prospera Financial Services Inc raised its holdings in shares of Silvergate Capital by 45.1% in the second quarter. Prospera Financial Services Inc now owns 676 shares of the company’s stock valued at $36,000 after purchasing an additional 210 shares during the last quarter. 77.65% of the stock is owned by institutional investors.

Silvergate Capital Company Profile

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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.

See Also

Earnings History and Estimates for Silvergate Capital (NYSE:SI)

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