BTIG Research Trims Silvergate Capital (NYSE:SI) Target Price to $51.00

Silvergate Capital (NYSE:SIGet Rating) had its target price decreased by BTIG Research from $135.00 to $51.00 in a report released on Tuesday morning, The Fly reports. BTIG Research currently has a buy rating on the stock.

Several other research firms have also recently issued reports on SI. Wedbush cut their target price on Silvergate Capital from $85.00 to $70.00 and set an outperform rating for the company in a research report on Monday, November 14th. Canaccord Genuity Group cut their target price 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. Craig Hallum cut their price target on Silvergate Capital from $100.00 to $36.00 in a report on Monday. TheStreet upgraded Silvergate Capital from a d+ rating to a c rating in a report on Monday, November 7th. Finally, Canaccord Genuity Group cut their price target on Silvergate Capital from $200.00 to $150.00 and set a buy rating for the company in a report on Wednesday, October 19th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Silvergate Capital has an average rating of Moderate Buy and an average target price of $82.82.

Silvergate Capital Stock Up 11.5 %

NYSE SI opened at $28.15 on Tuesday. The stock’s 50-day moving average price is $58.18 and its 200-day moving average price is $72.06. The company has a quick ratio of 0.18, a current ratio of 0.25 and a debt-to-equity ratio of 0.54. Silvergate Capital has a 52 week low of $23.20 and a 52 week high of $232.00. The company has a market capitalization of $891.23 million, a P/E ratio of 7.29, a price-to-earnings-growth ratio of 0.18 and a beta of 2.71.

Silvergate Capital (NYSE:SIGet Rating) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $1.28 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 during the quarter, compared to the consensus estimate of $100.34 million. During the same period last year, the business earned $0.88 EPS. On average, equities research analysts predict that Silvergate Capital will post 4.02 earnings per share for the current year.

Hedge Funds Weigh In On Silvergate Capital

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bridgewater Associates LP lifted 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 worth $31,462,000 after acquiring an additional 528,122 shares during the last quarter. BlackRock Inc. lifted its stake in shares of 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 acquiring an additional 354,000 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of 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 acquiring an additional 334,335 shares during the last quarter. Invesco Ltd. lifted its stake in shares of 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 acquiring an additional 322,885 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Silvergate Capital during the 3rd quarter worth approximately $23,564,000. Hedge funds and other institutional investors own 77.65% of the company’s stock.

About Silvergate Capital

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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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