Silvergate Capital Co. (NYSE:SI) CEO Alan J. Lane Sells 75,000 Shares

Silvergate Capital Co. (NYSE:SI) CEO Alan J. Lane sold 75,000 shares of the stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $105.61, for a total transaction of $7,920,750.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $7,920,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of SI opened at $101.18 on Friday. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 60.23 and a beta of 2.62. The company’s 50 day simple moving average is $116.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.72 and a current ratio of 0.85. Silvergate Capital Co. has a twelve month low of $12.05 and a twelve month high of $187.86.

Silvergate Capital (NYSE:SI) last issued its quarterly earnings data on Monday, April 19th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $31.11 million for the quarter, compared to analyst estimates of $29.93 million. Silvergate Capital had a net margin of 32.67% and a return on equity of 8.81%. As a group, research analysts expect that Silvergate Capital Co. will post 2.05 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors acquired a new position in Silvergate Capital during the first quarter valued at approximately $26,000. Quantbot Technologies LP acquired a new position in Silvergate Capital during the first quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC acquired a new position in Silvergate Capital during the fourth quarter valued at approximately $43,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Silvergate Capital during the fourth quarter valued at approximately $45,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Silvergate Capital during the first quarter valued at approximately $51,000. 72.84% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Silvergate Capital from a “hold” rating to a “sell” rating in a research report on Saturday, April 24th. Canaccord Genuity increased their price target on shares of Silvergate Capital from $90.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 30th. Barclays increased their price target on shares of Silvergate Capital from $85.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 13th. Finally, Wedbush increased their price target on shares of Silvergate Capital from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Silvergate Capital currently has an average rating of “Buy” and a consensus price target of $132.29.

Silvergate Capital Company Profile

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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Insider Buying and Selling by Quarter for Silvergate Capital (NYSE:SI)

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