Silvergate Capital Co. (NYSE:SI) Short Interest Update


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Silvergate Capital Co. (NYSE:SI) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 733,400 shares, a growth of 91.5% from the December 15th total of 382,900 shares. Based on an average daily volume of 449,400 shares, the short-interest ratio is currently 1.6 days. Approximately 4.4% of the shares of the stock are short sold.

In other Silvergate Capital news, Director Thomas C. Dircks sold 60,000 shares of the stock in a transaction on Tuesday, December 8th. The shares were sold at an average price of $40.66, for a total value of $2,439,600.00. Following the completion of the sale, the director now owns 59,064 shares in the company, valued at $2,401,542.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul D. Colucci sold 10,000 shares of the stock in a transaction on Wednesday, November 18th. The shares were sold at an average price of $30.08, for a total transaction of $300,800.00. The disclosure for this sale can be found here. Insiders have sold 505,148 shares of company stock worth $20,133,188 over the last quarter.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System lifted its position in shares of Silvergate Capital by 107.8% during the 2nd quarter. California Public Employees Retirement System now owns 33,897 shares of the company’s stock valued at $475,000 after buying an additional 17,581 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Silvergate Capital by 225.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 50,018 shares of the company’s stock valued at $700,000 after purchasing an additional 34,659 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Silvergate Capital by 125.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 29,620 shares of the company’s stock valued at $414,000 after purchasing an additional 16,506 shares during the last quarter. American International Group Inc. increased its position in shares of Silvergate Capital by 398.6% during the 2nd quarter. American International Group Inc. now owns 9,428 shares of the company’s stock valued at $132,000 after purchasing an additional 7,537 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Silvergate Capital by 701.8% in the 2nd quarter. Bank of America Corp DE now owns 6,318 shares of the company’s stock valued at $88,000 after acquiring an additional 5,530 shares during the last quarter. Institutional investors own 47.47% of the company’s stock.

NYSE:SI opened at $69.32 on Thursday. The firm has a market cap of $1.30 billion and a PE ratio of 64.79. Silvergate Capital has a fifty-two week low of $7.60 and a fifty-two week high of $81.43. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.59 and a current ratio of 0.78. The business has a 50 day moving average price of $54.35 and a 200-day moving average price of $26.50.

Silvergate Capital (NYSE:SI) last announced its quarterly earnings data on Saturday, October 31st. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.23 by $0.14. Silvergate Capital had a return on equity of 6.64% and a net margin of 21.02%. The business had revenue of $22.89 million during the quarter, compared to analyst estimates of $20.50 million.

Several research firms have commented on SI. Compass Point raised their target price on shares of Silvergate Capital from $26.00 to $50.00 and gave the company a “buy” rating in a report on Monday, December 14th. Wedbush initiated coverage on shares of Silvergate Capital in a research report on Monday, December 21st. They set an “outperform” rating on the stock. Canaccord Genuity restated a “buy” rating and issued a $40.00 price target on shares of Silvergate Capital in a research report on Monday, November 30th. Barclays boosted their price target on shares of Silvergate Capital from $18.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 27th. Finally, ValuEngine upgraded shares of Silvergate Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, January 5th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Silvergate Capital has a consensus rating of “Buy” and a consensus price target of $44.33.

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.

See Also: Net Income

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