Silvergate Capital Co. (NYSE:SI) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Silvergate Capital Co. (NYSE:SI – Get Rating) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $156.69.

SI has been the topic of a number of recent analyst reports. TheStreet cut Silvergate Capital from a “c” rating to a “d+” rating in a research report on Thursday, June 30th. BTIG Research initiated coverage on Silvergate Capital in a research report on Thursday, August 4th. They issued a “buy” rating and a $135.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $150.00 target price on shares of Silvergate Capital in a research report on Tuesday, July 19th. Wells Fargo & Company lifted their target price on Silvergate Capital from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, July 20th. Finally, The Goldman Sachs Group cut their price target on Silvergate Capital from $100.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, July 12th.

Silvergate Capital Stock Down 3.4 %

Shares of NYSE SI opened at $75.67 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.19 and a current ratio of 0.25. Silvergate Capital has a 52 week low of $50.65 and a 52 week high of $239.26. The stock has a market capitalization of $2.39 billion, a P/E ratio of 21.87, a PEG ratio of 0.46 and a beta of 3.07. The stock’s fifty day moving average is $90.85 and its 200 day moving average is $95.74.

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Silvergate Capital (NYSE:SI – Get Rating) last released its earnings results on Tuesday, July 19th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.30. Silvergate Capital had a return on equity of 7.85% and a net margin of 45.70%. The firm had revenue of $79.76 million for the quarter, compared to analysts’ expectations of $70.32 million. During the same quarter in the previous year, the business posted $0.80 earnings per share. Sell-side analysts forecast that Silvergate Capital will post 5.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Alan J. Lane sold 16,314 shares of Silvergate Capital stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $92.46, for a total value of $1,508,392.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Silvergate Capital

Several institutional investors have recently added to or reduced their stakes in the business. Sigma Planning Corp lifted its stake in Silvergate Capital by 1.9% in the first quarter. Sigma Planning Corp now owns 5,087 shares of the company’s stock valued at $766,000 after buying an additional 93 shares during the period. Pictet Asset Management SA lifted its stake in Silvergate Capital by 5.3% in the fourth quarter. Pictet Asset Management SA now owns 1,877 shares of the company’s stock valued at $278,000 after buying an additional 94 shares during the period. Arizona State Retirement System lifted its stake in Silvergate Capital by 2.0% in the second quarter. Arizona State Retirement System now owns 8,239 shares of the company’s stock valued at $441,000 after buying an additional 160 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Silvergate Capital by 350.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 225 shares of the company’s stock valued at $34,000 after acquiring an additional 175 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC bought a new stake in shares of Silvergate Capital during the first quarter valued at approximately $30,000. 77.65% of the stock is owned by institutional investors and hedge funds.

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.