Silvergate Capital (NYSE:SI) posted its quarterly earnings data on Tuesday. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09, MarketWatch Earnings reports. Silvergate Capital had a net margin of 21.61% and a return on equity of 6.45%.
Shares of Silvergate Capital stock traded up $0.57 on Thursday, hitting $67.00. The company had a trading volume of 66,102 shares, compared to its average volume of 960,559. The business has a 50-day simple moving average of $59.20 and a 200-day simple moving average of $28.44. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.41. The company has a market cap of $1.26 billion, a PE ratio of 53.71 and a beta of 3.00. Silvergate Capital has a 52 week low of $7.60 and a 52 week high of $81.43.
In related news, EVP Derek J. Eisele sold 5,000 shares of Silvergate Capital stock in a transaction on Wednesday, December 2nd. The stock was sold at an average price of $39.30, for a total value of $196,500.00. Following the transaction, the executive vice president now directly owns 595 shares in the company, valued at approximately $23,383.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Derek J. Eisele sold 595 shares of the business’s stock in a transaction on Monday, December 7th. The stock was sold at an average price of $44.55, for a total value of $26,507.25. Following the sale, the executive vice president now directly owns 595 shares in the company, valued at $26,507.25. The disclosure for this sale can be found here. Insiders sold 505,148 shares of company stock valued at $20,133,188 over the last quarter.
A number of equities analysts have weighed in on the stock. Craig Hallum upped their price objective on shares of Silvergate Capital from $50.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, January 7th. Canaccord Genuity restated a “buy” rating and issued a $40.00 target price on shares of Silvergate Capital in a research note on Monday, November 30th. Compass Point increased their price objective on shares of Silvergate Capital from $26.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, December 14th. Wedbush began coverage on shares of Silvergate Capital in a research note on Monday, December 21st. They set an “outperform” rating on the stock. Finally, Barclays lowered shares of Silvergate Capital from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $26.00 to $76.00 in a research note on Thursday, January 14th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Silvergate Capital presently has a consensus rating of “Buy” and an average price target of $52.67.
About Silvergate Capital
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 and internationally. 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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