Barclays Increases Silvergate Capital (NYSE:SI) Price Target to $26.00

Silvergate Capital (NYSE:SI) had its price objective increased by Barclays from $18.00 to $26.00 in a research note issued on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 14.94% from the company’s current price.

SI has been the subject of a number of other reports. Compass Point initiated coverage on Silvergate Capital in a research report on Friday, October 16th. They set a “buy” rating and a $18.00 price objective for the company. Canaccord Genuity restated a “buy” rating and set a $19.00 price objective on shares of Silvergate Capital in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $20.60.

Shares of NYSE SI opened at $22.62 on Tuesday. Silvergate Capital has a one year low of $7.60 and a one year high of $23.48. The firm has a market capitalization of $422.47 million and a PE ratio of 21.14. The company has a current ratio of 0.78, a quick ratio of 0.59 and a debt-to-equity ratio of 1.40. The business has a 50-day moving average price of $16.08 and a two-hundred day moving average price of $14.57.

Silvergate Capital (NYSE:SI) last announced its quarterly earnings data on Monday, October 26th. The company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.19. Silvergate Capital had a return on equity of 6.64% and a net margin of 21.02%.

In related news, Director Dennis S. Frank sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $14.04, for a total value of $1,053,000.00. Following the completion of the sale, the director now directly owns 264,134 shares in the company, valued at approximately $3,708,441.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Son-Jai Paik bought 10,000 shares of Silvergate Capital stock in a transaction that occurred on Thursday, September 3rd. The stock was bought at an average price of $15.23 per share, with a total value of $152,300.00. The disclosure for this purchase can be found here.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cadence Capital Management LLC bought a new stake in shares of Silvergate Capital during the third quarter valued at approximately $360,000. Two Sigma Advisers LP acquired a new stake in Silvergate Capital in the 2nd quarter valued at $448,000. Nuveen Asset Management LLC boosted its stake in Silvergate Capital by 271.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 88,039 shares of the company’s stock valued at $1,232,000 after buying an additional 64,353 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in Silvergate Capital in the 2nd quarter valued at $466,000. Finally, Jane Street Group LLC acquired a new stake in Silvergate Capital in the 2nd quarter valued at $220,000. 47.47% of the stock is currently owned by institutional investors.

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

See Also: Earnings Per Share (EPS)

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