Silvergate Capital Co. (NYSE:SI) Short Interest Update

Silvergate Capital Co. (NYSE:SI) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 733,400 shares, an increase of 91.5% from the December 15th total of 382,900 shares. Currently, 4.4% of the shares of the stock are sold short. Based on an average trading volume of 449,400 shares, the short-interest ratio is presently 1.6 days.

SI stock opened at $69.32 on Thursday. The firm has a market capitalization of $1.30 billion and a P/E ratio of 64.79. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.78 and a quick ratio of 0.59. The company’s 50 day simple moving average is $54.35 and its 200-day simple moving average is $26.50. Silvergate Capital has a 52-week low of $7.60 and a 52-week high of $81.43.

Silvergate Capital (NYSE:SI) last released its quarterly earnings data on Saturday, October 31st. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.14. The firm had revenue of $22.89 million for the quarter, compared to analyst estimates of $20.50 million. Silvergate Capital had a net margin of 21.02% and a return on equity of 6.64%.

In related news, EVP Derek J. Eisele sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 2nd. The shares were sold at an average price of $39.30, for a total transaction of $196,500.00. Following the completion of the sale, the executive vice president now directly owns 595 shares of the company’s stock, valued at $23,383.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott A. Reed sold 426,488 shares of the stock in a transaction that occurred on Monday, December 14th. The shares were sold at an average price of $40.00, for a total transaction of $17,059,520.00. Following the sale, the director now directly owns 2,500 shares of the company’s stock, valued at $100,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 505,148 shares of company stock valued at $20,133,188.

A number of institutional investors have recently added to or reduced their stakes in SI. Pathstone Family Office LLC increased its stake in Silvergate Capital by 300.0% in the 3rd quarter. Pathstone Family Office LLC now owns 2,000 shares of the company’s stock valued at $29,000 after buying an additional 1,500 shares during the period. Banque Cantonale Vaudoise acquired a new position in Silvergate Capital in the 3rd quarter valued at approximately $29,000. Bank of America Corp DE increased its stake in Silvergate Capital by 701.8% in the 2nd quarter. Bank of America Corp DE now owns 6,318 shares of the company’s stock valued at $88,000 after buying an additional 5,530 shares during the period. American International Group Inc. increased its stake in Silvergate Capital by 398.6% in the 2nd quarter. American International Group Inc. now owns 9,428 shares of the company’s stock valued at $132,000 after buying an additional 7,537 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in Silvergate Capital by 22.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 13,521 shares of the company’s stock valued at $195,000 after buying an additional 2,521 shares during the period. Hedge funds and other institutional investors own 47.47% of the company’s stock.

Several analysts recently commented on SI shares. ValuEngine raised shares of Silvergate Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, January 5th. Keefe, Bruyette & Woods upgraded shares of Silvergate Capital from a “market perform” rating to an “outperform” rating and set a $54.00 price target on the stock in a report on Wednesday, December 16th. Craig Hallum boosted their price target on shares of Silvergate Capital from $50.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, January 7th. Barclays boosted their price target on shares of Silvergate Capital from $18.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, October 27th. Finally, Canaccord Genuity restated a “buy” rating and set a $40.00 price target on shares of Silvergate Capital in a report on Monday, November 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $44.33.

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. The company accepts deposit products, including interest and noninterest bearing demand accounts, money market and savings accounts, and certificates of deposit accounts.

See Also: Return On Assets

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