Prospera Financial Services Inc takes $70,000 position in Silvergate Capital Co. (NYSE:SI)
Prospera Financial Services Inc bought a new stake in shares of Silvergate Capital Co. (NYSE:SI – Get Rating) in Q1, according to its latest SEC filing. The institutional investor bought 466 shares of the company, valued at around $70,000.
Other institutional investors and hedge funds have also recently changed their positions in the company. Sigma Planning Corp increased its position in shares of Silvergate Capital by 1.9% during the first quarter. Sigma Planning Corp now owns 5,087 shares of the company valued at $766,000 after acquiring 93 additional shares in the last quarter. Pictet Asset Management SA increased its position in Silvergate Capital by 5.3% in the fourth quarter. Pictet Asset Management SA now owns 1,877 shares of the company worth $278,000 after purchasing an additional 94 shares during the period. Equitable Holdings Inc. increased its position in Silvergate Capital by 6.9% in the fourth quarter. Equitable Holdings Inc. now owns 1,964 shares of the company worth $291,000 after purchasing an additional 126 shares during the period. Newbridge Financial Services Group Inc. increased its position in Silvergate Capital by 350.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 225 shares of the company worth $34,000 after purchasing an additional 175 shares during the period. Finally, GPS Wealth Strategies Group LLC acquired a new stake in Silvergate Capital in the first quarter worth $30,000. 71.79% of the shares are currently held by hedge funds and other institutional investors.
Insider Activity at Silvergate Capital
In other Silvergate Capital news, CEO Alan J. Lane sold 16,314 shares of the company in a trade dated Thursday, July 21. The stock was sold at an average price of $92.46, for a total transaction of $1,508,392.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. 1.71% of the shares are currently held by company insiders.
Silvergate Capital is trading down 0.3%
NYSE:SI opened at $102.42 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.23 and a debt ratio of 0.53. Silvergate Capital Co. has a 1-year minimum of $50.65 and a 1-year maximum of $239.26. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 29.60, a growth price-to-earnings ratio of 0.58 and a beta of 3.09. The stock has a fifty-day simple moving average of $72.43 and a 200-day simple moving average of $100.51.
Silvergate Capital (NYSE:SI – Get Rating) last released its quarterly results on Tuesday, July 19. The company reported earnings per share of $1.13 for the quarter, beating consensus analyst estimates of $0.82 from $0.31. Silvergate Capital had a return on equity of 7.87% and a net margin of 45.70%. During the same period last year, the company posted earnings per share of $0.80. Sell-side analysts expect Silvergate Capital Co. to post earnings per share of 5.08 for the current year.
Wall Street analysts predict growth
Several equity research analysts have weighed in on the company. Canaccord Genuity Group raised its target price on Silvergate Capital from $164.00 to $200.00 and gave the stock a “buy” rating in a Wednesday, April 20 research report. Goldman Sachs Group lowered its price target on Silvergate Capital from $100.00 to $86.00 and set a “buy” rating on the stock in a Tuesday, July 12 research report. Morgan Stanley lowered its price target on Silvergate Capital from $88.00 to $77.00 and set an “equal weight” rating on the stock in a Tuesday, July 12 report. Wells Fargo & Company raised its price target on Silvergate Capital from $100.00 to $115.00 and gave the company an “overweight” rating in a Wednesday, July 20 report. Finally, Canaccord Genuity Group raised its price target on Silvergate Capital from $164.00 to $200.00 in a Wednesday, April 20 report. Two analysts gave the stock a hold rating and ten gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.69.
About Silvergate Capital
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Silvergate Capital Corporation operates as a bank holding company for Silvergate Bank which provides corporate and personal banking products and services in the United States. The Company accepts deposit products, including interest-bearing and non-interest-bearing current accounts, money market and savings accounts, and certificates of deposit accounts.
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