Silvergate Capital Co. (NYSE:SI – Get Rating) shares gapped down prior to trading on Monday after Morgan Stanley lowered their price target on the stock from $37.00 to $24.00. The stock had previously closed at $29.14, but opened at $28.10. Morgan Stanley currently has an equal weight rating on the stock. Silvergate Capital shares last traded at $26.80, with a volume of 19,163 shares changing hands.
Other analysts also recently issued reports about the company. Craig Hallum cut their price objective on Silvergate Capital from $100.00 to $36.00 in a research report on Monday, November 21st. JPMorgan Chase & Co. cut their price objective on Silvergate Capital from $80.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, November 21st. Bank of America downgraded Silvergate Capital from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $72.00 to $37.00 in a research report on Wednesday, November 9th. BTIG Research cut their price objective on Silvergate Capital from $135.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, November 22nd. Finally, Canaccord Genuity Group cut their price objective on Silvergate Capital from $200.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, October 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Silvergate Capital currently has a consensus rating of “Moderate Buy” and an average price target of $81.64.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. CI Investments Inc. acquired a new position in Silvergate Capital during the second quarter worth $26,000. Money Concepts Capital Corp boosted its position 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 purchasing an additional 487 shares in the last quarter. Antonetti Capital Management LLC purchased a new stake in shares of Silvergate Capital in the second quarter valued at $27,000. Newbridge Financial Services Group Inc. lifted its position in shares of Silvergate Capital by 155.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 575 shares of the company’s stock valued at $31,000 after acquiring an additional 350 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its position 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 acquiring an additional 210 shares in the last quarter. Institutional investors and hedge funds own 77.65% of the company’s stock.
Silvergate Capital Price Performance
The company has a 50-day moving average of $56.05 and a two-hundred day moving average of $71.23. The stock has a market capitalization of $851.63 million, a PE ratio of 6.97, a P/E/G ratio of 0.20 and a beta of 2.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.25 and a quick ratio of 0.18.
Silvergate Capital (NYSE:SI – Get Rating) last posted its earnings results on Tuesday, October 18th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.17). The company had revenue of $89.34 million during the quarter, compared to analyst estimates of $100.34 million. Silvergate Capital had a net margin of 45.10% and a return on equity of 8.85%. During the same quarter last year, the business posted $0.88 EPS. Sell-side analysts predict that Silvergate Capital Co. will post 3.74 EPS for the current fiscal 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.