Silvergate Capital (NYSE:SI) Given New $36.00 Price Target at Craig Hallum

Silvergate Capital (NYSE:SIGet Rating) had its price target reduced by Craig Hallum from $100.00 to $36.00 in a report issued on Monday morning, The Fly reports.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group cut 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. Canaccord Genuity Group lowered their target price on shares of Silvergate Capital from $200.00 to $150.00 and set a buy rating for the company in a research note on Wednesday, October 19th. TheStreet raised shares of Silvergate Capital from a d+ rating to a c rating in a research note on Monday, November 7th. Wells Fargo & Company raised shares of Silvergate Capital from an underweight rating to an equal weight rating and lifted their target price for the stock from $25.00 to $30.00 in a research note on Monday. Finally, Morgan Stanley lowered their target price on shares of Silvergate Capital from $77.00 to $37.00 and set an equal weight rating for the company in a research note on Wednesday, November 16th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Silvergate Capital currently has an average rating of Moderate Buy and an average price target of $82.82.

Silvergate Capital Price Performance

SI stock opened at $28.15 on Monday. The firm has a 50 day moving average of $58.18 and a 200-day moving average of $72.06. Silvergate Capital has a 12-month low of $23.20 and a 12-month high of $232.00. The company has a current ratio of 0.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.54. The company has a market cap 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 (NYSE:SIGet Rating) last issued its quarterly earnings data on Tuesday, October 18th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.17). Silvergate Capital had a return on equity of 8.85% and a net margin of 45.10%. The company had revenue of $89.34 million for the quarter, compared to analyst estimates of $100.34 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. As a group, equities analysts expect that Silvergate Capital will post 4.02 EPS for the current fiscal year.

Institutional Trading of Silvergate Capital

Several institutional investors have recently made changes to their positions in SI. Bridgewater Associates LP grew its stake in shares of Silvergate Capital by 885.8% during the 2nd quarter. Bridgewater Associates LP now owns 587,746 shares of the company’s stock valued at $31,462,000 after buying an additional 528,122 shares during the period. BlackRock Inc. boosted its position in Silvergate Capital by 18.9% during the 1st quarter. BlackRock Inc. now owns 2,225,537 shares of the company’s stock worth $335,100,000 after purchasing an additional 354,000 shares during the period. Alyeska Investment Group L.P. boosted its position in Silvergate Capital by 439.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 410,344 shares of the company’s stock worth $61,785,000 after purchasing an additional 334,335 shares during the period. Invesco Ltd. boosted its position in Silvergate Capital by 60.0% during the 1st quarter. Invesco Ltd. now owns 860,948 shares of the company’s stock worth $129,632,000 after purchasing an additional 322,885 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in Silvergate Capital during the 3rd quarter worth $23,564,000. 77.65% of the stock is owned by hedge funds and other institutional investors.

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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