Wedbush Equities Analysts Increase Earnings Estimates for Silvergate Capital Co. (NYSE:SI)

Silvergate Capital Co. (NYSE:SI – Get Rating) – Wedbush lifted their Q3 2022 EPS estimates for shares of Silvergate Capital in a report released on Tuesday, July 19th. Wedbush analyst D. Chiaverini now forecasts that the company will earn $1.29 per share for the quarter, up from their previous forecast of $1.15. Wedbush currently has a “Outperform” rating and a $150.00 price objective on the stock. The consensus estimate for Silvergate Capital’s current full-year earnings is $4.36 per share.

Silvergate Capital (NYSE:SI – Get Rating) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.31. Silvergate Capital had a net margin of 45.70% and a return on equity of 7.87%. During the same period in the prior year, the business posted $0.80 earnings per share.

A number of other analysts have also weighed in on SI. Craig Hallum increased their price objective on shares of Silvergate Capital from $150.00 to $160.00 in a research report on Wednesday, April 20th. Wells Fargo & Company increased their price objective on shares of Silvergate Capital from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley reduced their price objective on shares of Silvergate Capital from $88.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 12th. The Goldman Sachs Group reduced their price objective on shares of Silvergate Capital from $100.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, July 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Silvergate Capital from $200.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $158.50.

Silvergate Capital Stock Up 1.0 %

Shares of NYSE:SI opened at $93.54 on Thursday. The company has a current ratio of 0.23, a quick ratio of 0.16 and a debt-to-equity ratio of 0.53. Silvergate Capital has a 12 month low of $50.65 and a 12 month high of $239.26. The company has a 50-day moving average price of $68.25 and a 200 day moving average price of $103.69. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 0.52 and a beta of 2.76.

Institutional Investors Weigh In On Silvergate Capital

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP lifted its stake in shares of Silvergate Capital by 301.1% during the fourth quarter. Marshall Wace LLP now owns 669,340 shares of the company’s stock worth $99,197,000 after buying an additional 502,455 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Silvergate Capital during the fourth quarter worth $54,059,000. BlackRock Inc. lifted its stake in shares of Silvergate Capital by 18.9% during the first quarter. BlackRock Inc. now owns 2,225,537 shares of the company’s stock worth $335,100,000 after buying an additional 354,000 shares during the period. Alyeska Investment Group L.P. lifted its stake in shares of Silvergate Capital by 439.9% during the first quarter. Alyeska Investment Group L.P. now owns 410,344 shares of the company’s stock worth $61,785,000 after buying an additional 334,335 shares during the period. Finally, Capital International Investors lifted its stake in shares of Silvergate Capital by 235.9% during the fourth quarter. Capital International Investors now owns 463,210 shares of the company’s stock worth $68,648,000 after buying an additional 325,310 shares during the period. 71.79% of the stock is currently owned by institutional investors and hedge funds.

Silvergate Capital Company 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.