Silvergate Capital (NYSE:SI) Raised to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Silvergate Capital (NYSE:SIGet Rating) from an underweight rating to an equal weight rating in a report published on Monday morning, MarketBeat reports. The firm currently has $30.00 price objective on the stock, up from their prior price objective of $25.00.

Other research analysts have also issued reports about the company. Canaccord Genuity Group lowered 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. TheStreet upgraded Silvergate Capital from a d+ rating to a c rating in a research note on Monday, November 7th. The Goldman Sachs Group decreased their price target on Silvergate Capital from $64.00 to $40.00 and set a neutral rating on the stock in a research note on Monday, November 14th. Wedbush decreased their price target on Silvergate Capital from $85.00 to $70.00 and set an outperform rating on the stock in a research note on Monday, November 14th. Finally, Bank of America cut Silvergate Capital from a buy rating to a neutral rating and decreased their price target for the stock from $72.00 to $37.00 in a research note on Wednesday, November 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Silvergate Capital presently has an average rating of Moderate Buy and an average target price of $82.82.

Silvergate Capital Trading Up 11.5 %

Shares of Silvergate Capital stock opened at $28.15 on Monday. The firm has a market capitalization of $891.23 million, a price-to-earnings ratio of 7.29, a PEG ratio of 0.18 and a beta of 2.71. Silvergate Capital has a fifty-two week low of $23.20 and a fifty-two week high of $232.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.18 and a current ratio of 0.25. The stock has a 50 day moving average of $58.18 and a 200 day moving average of $72.06.

Silvergate Capital (NYSE:SIGet Rating) last issued its quarterly earnings data 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 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 quarter in the previous year, the company posted $0.88 earnings per share. As a group, research analysts predict that Silvergate Capital will post 4.02 earnings per share for the current year.

Institutional Trading of Silvergate Capital

Several hedge funds have recently modified their holdings of SI. Vanguard Group Inc. raised its stake in Silvergate Capital by 9.3% in the first quarter. Vanguard Group Inc. now owns 2,847,242 shares of the company’s stock valued at $428,709,000 after buying an additional 241,988 shares in the last quarter. BlackRock Inc. raised its stake in Silvergate Capital by 18.9% in the first quarter. BlackRock Inc. now owns 2,225,537 shares of the company’s stock valued at $335,100,000 after buying an additional 354,000 shares in the last quarter. State Street Corp raised its stake in Silvergate Capital by 6.2% in the third quarter. State Street Corp now owns 1,687,121 shares of the company’s stock valued at $127,125,000 after buying an additional 98,313 shares in the last quarter. Marshall Wace LLP raised its stake in Silvergate Capital by 4.5% in the third quarter. Marshall Wace LLP now owns 1,349,311 shares of the company’s stock valued at $101,671,000 after buying an additional 57,732 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Silvergate Capital by 60.0% in the first quarter. Invesco Ltd. now owns 860,948 shares of the company’s stock valued at $129,632,000 after buying an additional 322,885 shares in the last quarter. 77.65% of the stock is currently owned by institutional investors and hedge funds.

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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