Silvergate Capital Co. Expected to Post Q4 2021 Earnings of $0.82 Per Share (NYSE:SI)

Silvergate Capital Co. (NYSE:SI) – Stock analysts at Wedbush reduced their Q4 2021 earnings per share estimates for shares of Silvergate Capital in a research note issued on Wednesday, September 22nd. Wedbush analyst D. Chiaverini now forecasts that the company will post earnings of $0.82 per share for the quarter, down from their previous estimate of $0.85. Wedbush has a “Outperform” rating and a $160.00 price objective on the stock. Wedbush also issued estimates for Silvergate Capital’s Q1 2022 earnings at $0.83 EPS, Q3 2022 earnings at $0.93 EPS, Q4 2022 earnings at $1.01 EPS, FY2023 earnings at $4.80 EPS and FY2025 earnings at $7.20 EPS.

A number of other equities research analysts also recently weighed in on SI. The Goldman Sachs Group assumed coverage on Silvergate Capital in a research report on Monday, June 14th. They set a “neutral” rating and a $120.00 price target on the stock. Zacks Investment Research cut Silvergate Capital from a “strong-buy” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Silvergate Capital currently has a consensus rating of “Buy” and an average price target of $119.38.

NYSE SI opened at $105.07 on Thursday. The stock’s 50-day simple moving average is $107.94 and its two-hundred day simple moving average is $113.99. Silvergate Capital has a twelve month low of $13.50 and a twelve month high of $187.86. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 47.98 and a beta of 2.60.

Silvergate Capital (NYSE:SI) last issued its quarterly earnings data on Monday, July 19th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.29. Silvergate Capital had a return on equity of 9.22% and a net margin of 40.03%. The company had revenue of $42.45 million for the quarter, compared to the consensus estimate of $36.43 million.

In related news, COO Kathleen Fraher sold 13,750 shares of the business’s stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $103.95, for a total value of $1,429,312.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis S. Frank sold 23,690 shares of the business’s stock in a transaction that occurred on Friday, August 13th. The stock was sold at an average price of $118.32, for a total transaction of $2,803,000.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,231 shares of company stock worth $12,214,913. Insiders own 8.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors purchased a new stake in Silvergate Capital during the 1st quarter valued at $26,000. Quantbot Technologies LP purchased a new stake in Silvergate Capital during the 1st quarter valued at $28,000. Macquarie Group Ltd. purchased a new stake in Silvergate Capital during the 2nd quarter valued at $31,000. Harvest Fund Management Co. Ltd purchased a new stake in Silvergate Capital during the 1st quarter valued at $51,000. Finally, Toronto Dominion Bank purchased a new stake in Silvergate Capital during the 1st quarter valued at $114,000. Institutional investors own 73.71% of the company’s stock.

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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Earnings History and Estimates for Silvergate Capital (NYSE:SI)

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