Amalgamated Bank decreased its position in Silvergate Capital Co. (NYSE:SI – Get Rating) by 6.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,505 shares of the company's stock after selling 326 shares during the period. Amalgamated Bank's holdings in Silvergate Capital were worth $678,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. GPS Wealth Strategies Group LLC purchased a new stake in Silvergate Capital during the first quarter worth $30,000. Newbridge Financial Services Group Inc. lifted its holdings in Silvergate Capital by 350.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 225 shares of the company's stock worth $34,000 after buying an additional 175 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Silvergate Capital during the first quarter worth $49,000. Parallel Advisors LLC lifted its holdings in Silvergate Capital by 2,350.0% during the first quarter. Parallel Advisors LLC now owns 343 shares of the company's stock worth $52,000 after buying an additional 329 shares during the period. Finally, Signaturefd LLC lifted its holdings in Silvergate Capital by 1,196.3% during the first quarter. Signaturefd LLC now owns 350 shares of the company's stock worth $53,000 after buying an additional 323 shares during the period. Hedge funds and other institutional investors own 77.65% of the company's stock.
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Silvergate Capital Price Performance
NYSE SI opened at $75.35 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.25 and a quick ratio of 0.19. The stock's fifty day moving average price is $90.29 and its 200 day moving average price is $93.60. Silvergate Capital Co. has a 1 year low of $50.65 and a 1 year high of $239.26. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 0.43 and a beta of 3.07.
Silvergate Capital (NYSE:SI – Get Rating) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.30. The company had revenue of $79.76 million for the quarter, compared to the consensus estimate of $70.32 million. Silvergate Capital had a return on equity of 7.85% and a net
margin of 45.70%. During the same period last year, the firm earned $0.80 EPS. As a group, equities research analysts forecast that Silvergate Capital Co. will post 5.02 earnings per share for the current year.
Insiders Place Their Bets
In other Silvergate Capital news, CEO Alan J. Lane sold 16,314 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $92.46, for a total transaction of $1,508,392.44. The sale was disclosed in a filing with the SEC, which is available through this link. 1.71% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of analysts have weighed in on SI shares. Morgan Stanley lowered their target price on Silvergate Capital from $88.00 to $77.00 and set an "equal weight" rating for the company in a report on Tuesday, July 12th. Wedbush reiterated an "outperform" rating and set a $150.00 price objective on shares of Silvergate Capital in a report on Tuesday, July 19th. JPMorgan Chase & Co. decreased their price objective on Silvergate Capital from $200.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, July 1st. Wells Fargo & Company increased their price objective on Silvergate Capital from $100.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, July 20th. Finally, The Goldman Sachs Group decreased their price objective on Silvergate Capital from $100.00 to $86.00 and set a "buy" rating for the company in a report on Tuesday, July 12th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $156.69.
Silvergate Capital 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.
Further Reading
- Get a free copy of the StockNews.com research report on Silvergate Capital (SI)
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