Emerald Mutual Fund Advisers Trust trimmed its position in Silvergate Capital Co. (NYSE:SI) by 52.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 106,340 shares of the company’s stock after selling 115,189 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Silvergate Capital were worth $7,902,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of SI. ARK Investment Management LLC grew its position in shares of Silvergate Capital by 120.5% during the 3rd quarter. ARK Investment Management LLC now owns 226,764 shares of the company’s stock worth $3,265,000 after purchasing an additional 123,944 shares in the last quarter. BlackRock Inc. grew its position in shares of Silvergate Capital by 12.8% during the 3rd quarter. BlackRock Inc. now owns 978,208 shares of the company’s stock worth $14,086,000 after purchasing an additional 110,672 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of Silvergate Capital during the 4th quarter worth approximately $7,431,000. Artemis Investment Management LLP acquired a new position in shares of Silvergate Capital during the 4th quarter worth approximately $6,729,000. Finally, SoftVest Advisors LLC acquired a new position in shares of Silvergate Capital during the 3rd quarter worth approximately $1,094,000. 56.09% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on the stock. Canaccord Genuity increased their target price on shares of Silvergate Capital from $40.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, January 25th. Wedbush assumed coverage on shares of Silvergate Capital in a research report on Monday, December 21st. They set an “outperform” rating on the stock. Keefe, Bruyette & Woods upgraded shares of Silvergate Capital from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a research report on Wednesday, December 16th. Craig Hallum upped their price target on shares of Silvergate Capital from $50.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, January 7th. Finally, Compass Point upped their price target on shares of Silvergate Capital from $26.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, December 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Silvergate Capital currently has an average rating of “Buy” and a consensus price target of $62.50.
Shares of Silvergate Capital stock opened at $108.41 on Wednesday. The company has a 50 day moving average of $70.18 and a 200-day moving average of $32.97. Silvergate Capital Co. has a 1-year low of $7.60 and a 1-year high of $111.23. The company has a current ratio of 0.70, a quick ratio of 0.41 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.45 billion, a PE ratio of 100.38 and a beta of 3.00.
Silvergate Capital (NYSE:SI) last issued its quarterly earnings results on Thursday, January 21st. The company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.09. Silvergate Capital had a net margin of 21.61% and a return on equity of 6.45%. Research analysts forecast that Silvergate Capital Co. will post 1.3 earnings per share for the current year.
In related news, Director Paul D. Colucci sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 18th. The shares were sold at an average price of $30.08, for a total value of $300,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen F. Brassfield sold 2,500 shares of the stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $36.00, for a total transaction of $90,000.00. Following the completion of the transaction, the director now directly owns 16,231 shares of the company’s stock, valued at approximately $584,316. The disclosure for this sale can be found here. In the last three months, insiders sold 505,148 shares of company stock valued at $20,133,188.
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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