Silvergate Capital (NYSE:SI) Stock Price Down 4.8%

Silvergate Capital Co. (NYSE:SIGet Rating) was down 4.8% during mid-day trading on Friday . The company traded as low as $25.42 and last traded at $26.55. Approximately 38,556 shares changed hands during trading, a decline of 99% from the average daily volume of 3,550,729 shares. The stock had previously closed at $27.90.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SI shares. Bank of America cut shares of Silvergate Capital from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $72.00 to $37.00 in a report on Wednesday, November 9th. Wells Fargo & Company dropped their price target on shares of Silvergate Capital from $50.00 to $25.00 and set an “underweight” rating on the stock in a research report on Thursday, November 10th. TheStreet raised shares of Silvergate Capital from a “d+” rating to a “c” rating in a research report on Monday, November 7th. Canaccord Genuity Group dropped their price target on shares of Silvergate Capital from $200.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, October 19th. Finally, Morgan Stanley lowered their price objective on shares of Silvergate Capital from $77.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.45.

Silvergate Capital Stock Down 10.8 %

The company has a current ratio of 0.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $788.33 million, a P/E ratio of 6.45, a price-to-earnings-growth ratio of 0.17 and a beta of 2.71. The company’s fifty day simple moving average is $62.12 and its 200 day simple moving average is $74.00.

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 analysts’ expectations of $100.34 million. Silvergate Capital had a return on equity of 8.85% and a net margin of 45.10%. During the same period in the prior year, the company earned $0.88 earnings per share. Research analysts expect that Silvergate Capital Co. will post 4.26 EPS for the current year.

Institutional Trading of Silvergate Capital

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Silvergate Capital by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 2,847,242 shares of the company’s stock worth $428,709,000 after purchasing an additional 241,988 shares during the period. BlackRock Inc. lifted its stake in shares of Silvergate Capital by 18.9% in the 1st quarter. BlackRock Inc. now owns 2,225,537 shares of the company’s stock worth $335,100,000 after purchasing an additional 354,000 shares during the period. State Street Corp raised its stake in Silvergate Capital by 6.2% during the 3rd quarter. State Street Corp now owns 1,687,121 shares of the company’s stock worth $127,125,000 after acquiring an additional 98,313 shares during the period. Marshall Wace LLP raised its stake in Silvergate Capital by 4.5% during the 3rd quarter. Marshall Wace LLP now owns 1,349,311 shares of the company’s stock worth $101,671,000 after acquiring an additional 57,732 shares during the period. Finally, Invesco Ltd. raised its stake in Silvergate Capital by 60.0% during the 1st quarter. Invesco Ltd. now owns 860,948 shares of the company’s stock worth $129,632,000 after acquiring an additional 322,885 shares during the period. 77.65% of the stock is owned by hedge funds and other 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.

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