Shares of Silvergate Capital Co. (NYSE:SI – Get Rating) hit a new 52-week low on Monday after Wedbush lowered their price target on the stock from $45.00 to $30.00. The stock traded as low as $20.80 and last traded at $20.80, with a volume of 157 shares. The stock had previously closed at $21.43.
Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Silvergate Capital from $80.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, November 21st. Canaccord Genuity Group decreased their price target on Silvergate Capital from $200.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. Morgan Stanley downgraded Silvergate Capital from an “equal weight” rating to an “underweight” rating and set a $24.00 price target for the company. in a research note on Monday, December 5th. The Goldman Sachs Group decreased their target price on Silvergate Capital from $64.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, November 14th. Finally, Canaccord Genuity Group decreased their target price on Silvergate Capital from $200.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Silvergate Capital has a consensus rating of “Moderate Buy” and an average price target of $78.00.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of SI. Vanguard Group Inc. boosted its position 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 last quarter. BlackRock Inc. boosted its position 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 last quarter. State Street Corp boosted its position in shares of Silvergate Capital by 6.2% in the 3rd quarter. State Street Corp now owns 1,687,121 shares of the company’s stock worth $127,125,000 after purchasing an additional 98,313 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Silvergate Capital by 4.5% in the 3rd quarter. Marshall Wace LLP now owns 1,349,311 shares of the company’s stock worth $101,671,000 after purchasing an additional 57,732 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Silvergate Capital by 60.0% in the 1st quarter. Invesco Ltd. now owns 860,948 shares of the company’s stock worth $129,632,000 after purchasing an additional 322,885 shares during the last quarter. 77.65% of the stock is currently owned by institutional investors.
Silvergate Capital Trading Down 2.9 %
The company has a fifty day simple moving average of $45.63 and a two-hundred day simple moving average of $67.91. The company has a quick ratio of 0.18, a current ratio of 0.25 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $658.51 million, a P/E ratio of 5.55, a price-to-earnings-growth ratio of 0.15 and a beta of 2.45.
Silvergate Capital (NYSE:SI – Get Rating) last posted its earnings results on Tuesday, October 18th. The company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.17). The business had revenue of $89.34 million for the quarter, compared to the consensus estimate of $100.34 million. Silvergate Capital had a return on equity of 8.85% and a net margin of 45.10%. During the same quarter in the prior year, the firm posted $0.88 earnings per share. On average, sell-side analysts expect that Silvergate Capital Co. will post 3.74 earnings per share for the current year.
Silvergate Capital Company Profile
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.