Silvergate Capital (NYSE:SI) Hits New 52-Week Low at $51.50

Silvergate Capital Co. (NYSE:SI – Get Rating) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $51.50 and last traded at $52.18, with a volume of 11488 shares changing hands. The stock had previously closed at $57.50.

A number of analysts have recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $200.00 price target on shares of Silvergate Capital in a research report on Wednesday, April 20th. Bank of America started coverage on Silvergate Capital in a research note on Monday, March 21st. They issued a “buy” rating and a $200.00 price target on the stock. The Goldman Sachs Group decreased their price target on Silvergate Capital from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, April 20th. Canaccord Genuity Group lifted their price target on Silvergate Capital from $164.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, April 20th. Finally, Canaccord Genuity Group lifted their price target on Silvergate Capital from $164.00 to $200.00 in a research note on Wednesday, April 20th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.00.

The company has a quick ratio of 0.16, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $1.72 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 0.43 and a beta of 2.61. The company has a 50-day moving average of $83.06 and a two-hundred day moving average of $112.87.

Silvergate Capital (NYSE:SI – Get Rating) last released its quarterly earnings results on Tuesday, April 19th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.33. Silvergate Capital had a return on equity of 7.87% and a net margin of 45.57%. The company had revenue of $59.95 million for the quarter, compared to analyst estimates of $54.89 million. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, equities analysts expect that Silvergate Capital Co. will post 4.38 EPS for the current fiscal year.

In related news, COO Kathleen Fraher sold 750 shares of Silvergate Capital stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $130.44, for a total transaction of $97,830.00. Following the sale, the chief operating officer now directly owns 10,847 shares in the company, valued at $1,414,882.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.71% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SI. Riggs Asset Managment Co. Inc. raised its stake in shares of Silvergate Capital by 152.8% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 182 shares of the company’s stock worth $27,000 after purchasing an additional 110 shares during the last quarter. GPS Wealth Strategies Group LLC purchased a new position in shares of Silvergate Capital in the first quarter worth $30,000. Newbridge Financial Services Group Inc. raised its stake in shares of Silvergate Capital by 350.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 225 shares of the company’s stock worth $34,000 after purchasing an additional 175 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Silvergate Capital by 442.9% in the fourth quarter. First Horizon Advisors Inc. now owns 266 shares of the company’s stock worth $39,000 after purchasing an additional 217 shares during the last quarter. Finally, Financial Management Professionals Inc. raised its stake in shares of Silvergate Capital by 1,148.0% in the fourth quarter. Financial Management Professionals Inc. now owns 312 shares of the company’s stock worth $46,000 after purchasing an additional 287 shares during the last quarter. 71.79% of the stock is currently owned by institutional investors and hedge funds.

About Silvergate Capital (NYSE:SI)

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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