Silvergate Capital Co. (NYSE:SI) – Analysts at B. Riley upped their FY2022 earnings per share estimates for Silvergate Capital in a report released on Wednesday, January 12th. B. Riley analyst S. Moss now anticipates that the company will post earnings of $4.15 per share for the year, up from their prior estimate of $3.55. B. Riley has a “Buy” rating and a $260.00 price objective on the stock. B. Riley also issued estimates for Silvergate Capital’s Q4 2022 earnings at $1.32 EPS and FY2023 earnings at $6.40 EPS.
Silvergate Capital (NYSE:SI) last released its quarterly earnings results on Monday, October 18th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.17. Silvergate Capital had a return on equity of 8.98% and a net margin of 43.26%. The company had revenue of $51.71 million during the quarter, compared to analysts’ expectations of $45.19 million. During the same period last year, the business posted $0.37 earnings per share.
Silvergate Capital stock opened at $138.15 on Friday. The stock has a 50-day moving average of $168.57 and a two-hundred day moving average of $138.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.40 and a current ratio of 0.47. Silvergate Capital has a one year low of $56.00 and a one year high of $239.26. The stock has a market cap of $3.67 billion, a PE ratio of 51.17 and a beta of 2.36.
A number of institutional investors and hedge funds have recently modified their holdings of SI. Penserra Capital Management LLC acquired a new stake in Silvergate Capital in the third quarter valued at approximately $27,000. Point72 Hong Kong Ltd acquired a new stake in shares of Silvergate Capital in the third quarter worth approximately $27,000. Macquarie Group Ltd. acquired a new stake in shares of Silvergate Capital in the second quarter worth approximately $31,000. IFP Advisors Inc boosted its stake in shares of Silvergate Capital by 50.0% in the third quarter. IFP Advisors Inc now owns 270 shares of the company’s stock worth $31,000 after acquiring an additional 90 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Silvergate Capital by 33.3% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 400 shares of the company’s stock worth $46,000 after acquiring an additional 100 shares during the last quarter. 79.68% of the stock is currently owned by institutional investors.
In other Silvergate Capital news, Director Thomas C. Dircks sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 21st. The stock was sold at an average price of $150.11, for a total value of $7,505,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kathleen Fraher sold 3,539 shares of the firm’s stock in a transaction that occurred on Friday, November 19th. The shares were sold at an average price of $220.84, for a total value of $781,552.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 174,662 shares of company stock valued at $30,889,985. 8.50% of the stock is owned by company insiders.
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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