Silvergate Capital Corporation [SI] Revenue clocked in at $157.90 million, down -57.02% YTD: What’s Next?


Silvergate Capital Corporation [NYSE: SI] loss -10.92% or -7.81 points to close at $63.70 with a heavy trading volume of 4719851 shares. The company report on April 19, 2022 that Silvergate Capital Corporation Announces First Quarter 2022 Results.

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Silvergate Capital Corporation (“Silvergate” or “Company”) (NYSE:SI) and its wholly-owned subsidiary, Silvergate Bank (“Bank”), today announced financial results for the three months ended March 31, 2022.

It opened the trading session at $66.11, the shares rose to $70.41 and dropped to $56.15, the range by which the price of stock traded the whole day. The daily chart for SI points out that the company has recorded -66.25% loss over the past six months. However, it is still 9.01% lower than its most recent low trading price.

If we look at the average trading volume of 866.10K shares, SI reached to a volume of 4719851 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Silvergate Capital Corporation [SI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SI shares is $205.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SI stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Silvergate Capital Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 21, 2022. While these analysts kept the previous recommendation, Goldman dropped their target price from $190 to $166. The new note on the price target was released on January 20, 2022, representing the official price target for Silvergate Capital Corporation stock. Previously, the target price had yet another raise to $260, while B. Riley Securities analysts kept a Buy rating on SI stock.

The Average True Range (ATR) for Silvergate Capital Corporation is set at 12.79, with the Price to Sales ratio for SI stock in the period of the last 12 months amounting to 12.91. The Price to Book ratio for the last quarter was 1.09, with the Price to Cash per share for the same quarter was set at 170.55.

Trading performance analysis for SI stock

Silvergate Capital Corporation [SI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -43.51. With this latest performance, SI shares dropped by -47.90% in over the last four-week period, additionally sinking by -66.25% over the last 6 months – not to mention a drop of -30.70% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SI stock in for the last two-week period is set at 24.18, with the RSI for the last a single of trading hit 17.52, and the three-weeks RSI is set at 29.64 for Silvergate Capital Corporation [SI]. The present Moving Average for the last 50 days of trading for this stock 125.90, while it was recorded at 84.53 for the last single week of trading, and 135.09 for the last 200 days.

An analysis of insider ownership at Silvergate Capital Corporation [SI]

There are presently around $1,700 million, or 73.50% of SI stock, in the hands of institutional investors. The top three institutional holders of SI stocks are: VANGUARD GROUP INC with ownership of 2,605,254, which is approximately 42.71% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 2,225,537 shares of the stock with an approximate value of $159.15 million in SI stocks shares; and STATE STREET CORP, currently with $100.45 million in SI stock with ownership of nearly -17.055% of the company’s market capitalization.

Positions in Silvergate Capital Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 180 institutional holders increased their position in Silvergate Capital Corporation [NYSE:SI] by around 6,112,237 shares. Additionally, 122 investors decreased positions by around 4,227,069 shares, while 29 investors held positions by with 13,439,040 shares. The mentioned changes placed institutional holdings at 23,778,346 shares, according to the latest SEC report filing. SI stock had 58 new institutional investments in for a total of 1,227,340 shares, while 45 institutional investors sold positions of 705,796 shares during the same period.