EAM Global Investors LLC purchased a new stake in Silvergate Capital Co. (NYSE:SI – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,813 shares of the company’s stock, valued at approximately $2,047,000.
A number of other institutional investors have also bought and sold shares of the business. Van ECK Associates Corp grew its holdings in shares of Silvergate Capital by 21.4% during the fourth quarter. Van ECK Associates Corp now owns 44,328 shares of the company’s stock worth $6,569,000 after buying an additional 7,815 shares during the last quarter. Natixis purchased a new stake in Silvergate Capital in the 3rd quarter valued at approximately $1,623,000. Strs Ohio purchased a new stake in Silvergate Capital in the 4th quarter valued at approximately $237,000. Royce & Associates LP purchased a new stake in Silvergate Capital in the 4th quarter valued at approximately $11,963,000. Finally, UBS Asset Management Americas Inc. boosted its holdings in Silvergate Capital by 3.7% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 30,413 shares of the company’s stock valued at $3,513,000 after purchasing an additional 1,087 shares in the last quarter. Institutional investors own 71.79% of the company’s stock.
In other Silvergate Capital news, COO Kathleen Fraher sold 750 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 10,847 shares in the company, valued at approximately $1,414,882.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen F. Brassfield sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $113.34, for a total transaction of $340,020.00. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by corporate insiders.
Silvergate Capital (NYSE:SI – Get Rating) last announced its quarterly earnings results on Tuesday, April 19th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.33. Silvergate Capital had a net margin of 45.57% and a return on equity of 7.31%. The firm had revenue of $59.95 million during the quarter, compared to analysts’ expectations of $54.89 million. During the same period in the prior year, the company earned $0.55 EPS. Research analysts predict that Silvergate Capital Co. will post 3.94 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on SI shares. Craig Hallum lifted their price target on shares of Silvergate Capital from $150.00 to $160.00 in a research report on Wednesday, April 20th. Canaccord Genuity Group lifted their price target on shares of Silvergate Capital from $164.00 to $200.00 in a research report on Wednesday, April 20th. Zacks Investment Research upgraded Silvergate Capital from a “hold” rating to a “strong-buy” rating and set a $174.00 price objective for the company in a research report on Wednesday, April 6th. JPMorgan Chase & Co. cut their price objective on Silvergate Capital from $300.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, January 19th. Finally, Canaccord Genuity Group lifted their price objective on Silvergate Capital from $164.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, April 20th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $199.83.
Silvergate Capital 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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