Silvergate Capital Corporation (NYSE:SI) Receives $18.13 Consensus Target Price from Analysts

Shares of Silvergate Capital Corporation (NYSE:SI) have received an average rating of “Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $18.13.

SI has been the subject of a number of recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Silvergate Capital in a research report on Thursday, April 30th. ValuEngine upgraded Silvergate Capital from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Zacks Investment Research cut shares of Silvergate Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, June 2nd.

Shares of Silvergate Capital stock traded down $1.21 during trading hours on Friday, reaching $13.25. 1,313,478 shares of the company’s stock were exchanged, compared to its average volume of 146,620. The company has a 50 day moving average of $14.49 and a two-hundred day moving average of $14.15. The company has a current ratio of 0.64, a quick ratio of 0.42 and a debt-to-equity ratio of 0.21. Silvergate Capital has a fifty-two week low of $7.60 and a fifty-two week high of $16.95.

Silvergate Capital (NYSE:SI) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The company had revenue of $20.41 million for the quarter, compared to analyst estimates of $19.00 million. On average, equities analysts expect that Silvergate Capital will post 0.5 earnings per share for the current fiscal year.

In other Silvergate Capital news, Director Robert Charles Campbell sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $14.63, for a total transaction of $73,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott A. Reed bought 2,200 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $13.80 per share, with a total value of $30,360.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 26,219 shares of company stock worth $390,742.

A number of hedge funds and other institutional investors have recently modified their holdings of SI. New York State Common Retirement Fund acquired a new stake in Silvergate Capital in the first quarter valued at approximately $31,000. American International Group Inc. bought a new position in shares of Silvergate Capital during the fourth quarter valued at $32,000. Advisor Group Holdings Inc. bought a new position in shares of Silvergate Capital during the first quarter valued at $39,000. Wells Fargo & Company MN lifted its holdings in shares of Silvergate Capital by 1,629.7% during the first quarter. Wells Fargo & Company MN now owns 5,016 shares of the company’s stock worth $48,000 after purchasing an additional 4,726 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Silvergate Capital by 29.7% in the first quarter. JPMorgan Chase & Co. now owns 5,450 shares of the company’s stock worth $52,000 after purchasing an additional 1,249 shares during the last quarter. 33.22% of the stock is owned by hedge funds and other institutional investors.

About Silvergate Capital

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 and internationally. It offers deposit products, including interest and noninterest bearing demand accounts, money market and savings accounts, and certificates of deposit accounts.

Read More: Retained Earnings

Receive News & Ratings for Silvergate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silvergate Capital and related companies with MarketBeat.com's FREE daily email newsletter.