The Silvergate Capital (NYSE: SI) rating reiterated by Morgan Stanley
Silvergate Capital (NYSE: SI)Morgan Stanley stock had its “buy” rating reissued by Morgan Stanley investment analysts in a report released Friday, TipRanks reports. They currently have a target price of $ 158.00 on the stock. Morgan Stanley’s price target indicates a potential decline of 2.85% from the company’s current price.
The SI has been the subject of several other reports. Goldman Sachs Group launched a cover on Silvergate Capital in a research note on Monday, June 14. They set a “neutral” rating and a target price of $ 120.00 on the stock. Zacks investment research downgraded Silvergate Capital from a “strong buy” rating to a “sell” rating in a Wednesday September 22nd research note. Finally, Wedbush lowered its price target on Silvergate Capital from $ 175.00 to $ 160.00 and set an “outperform” rating on the stock in a research report published on Wednesday, September 22. One analyst assigned a sell rating to the stock, two assigned a conservation rating and six assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $ 123.67.
NYSE SI shares traded up $ 10.92 on Friday, reaching $ 162.64. 1,347,673 shares of the company traded for an average volume of 1,159,128. Silvergate Capital has a fifty-two week low of $ 15.40 and a fifty-two week high of $ 187.86. The company has a 50-day moving average of $ 114.39 and a 200-day moving average of $ 113.13. The company has a current ratio of 0.53, a rapid ratio of 0.46, and a debt ratio of 0.02. The stock has a market cap of $ 4.31 billion, a PE ratio of 74.26 and a beta of 2.60.
Silvergate Capital (NYSE: SI) last reported its results on Monday, July 19. The company reported EPS of $ 0.80 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.51 of $ 0.29. The company posted revenue of $ 42.45 million in the quarter, compared to $ 36.43 million expected by analysts. Silvergate Capital recorded a return on equity of 9.22% and a net margin of 40.03%. As a group, research analysts expect Silvergate Capital to post earnings per share of 2.98 for the current year.
In other news from Silvergate Capital, Director Dennis S. Frank sold 23,690 shares of the company in a transaction dated Friday, August 13. The stock was sold at an average price of $ 118.32, for a total trade of $ 2,803,000.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In addition, director Paul D. Colucci sold 10,000 shares of the company in a transaction dated Monday, September 13. The stock was sold for an average price of $ 108.80, for a total value of $ 1,088,000.00. As a result of the sale, the director now owns 95,149 shares of the company, valued at $ 10,352,211.20. Disclosure of this sale can be found here. Insiders sold a total of 110,231 shares of the company valued at $ 12,214,913 during the last quarter. 8.50% of the shares are currently held by insiders.
Several institutional investors and hedge funds have recently bought and sold shares in the company. Captrust Financial Advisors purchased a new position in Silvergate Capital shares in Q1 valued at approximately $ 26,000. Quantbot Technologies LP purchased a new position in Silvergate Capital shares during the 1st quarter valued at approximately $ 28,000. IFP Advisors Inc increased its stake in the shares of Silvergate Capital by 50.0% in the 3rd quarter. IFP Advisors Inc now owns 270 shares of the company valued at $ 31,000 after acquiring 90 additional shares during the last quarter. Macquarie Group Ltd. purchased a new position in Silvergate Capital shares in the second quarter valued at approximately $ 31,000. Finally, Harvest Fund Management Co. Ltd. purchased a new position in Silvergate Capital shares in the 1st quarter valued at approximately $ 51,000. 73.71% of the capital is held by institutional investors.
Silvergate Capital Company Profile
Silvergate Capital Corporation operates as a banking holding company for Silvergate Bank which provides banking products and services to businesses and individuals in the United States and around the world. The Company accepts deposit products, including interest-bearing and non-interest bearing current accounts, money market and savings accounts, and certificates of deposit accounts.
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