Silvergate Capital Corporation [SI] moved down -22.65: Why It’s Important

Silvergate Capital Corporation [NYSE: SI] traded at a low on 11/08/22, posting a -22.65 loss after which it closed the day’ session at $39.42. The company report on November 7, 2022 that Silvergate announces changes to its executive team.


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Silvergate Capital Corporation (the “Company” or “Silvergate”) (NYSE: SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced the promotion of Ben Reynolds to President, and appointment of Kate Fraher as Chief Risk Officer, of both the Company and its subsidiary, Silvergate Bank. In their new roles, Ben and Kate will continue reporting to Alan Lane, CEO of Silvergate and the bank.

“We are excited about these new roles, which will benefit Silvergate as we continue to grow and mature as an organization,” said Alan Lane, CEO of Silvergate. “Serving the digital asset industry requires that we continue to innovate and deliver products requested by our customers while maintaining strict risk management practices. We’ve always approached this opportunity with prudence, and a great deal of our success over the past nine years is attributed to Ben, Kate and the teams they have led.”.

The results of the trading session contributed to over 8004149 shares changing hands. Over the past one week, the price volatility of Silvergate Capital Corporation stands at 12.36% while the volatility over the past one month is 9.43%.

The market cap for SI stock reached $1.27 billion, with 31.64 million shares outstanding and 31.01 million shares in the current float. Compared to the average trading volume of 773.36K shares, SI reached a trading volume of 8004149 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $92.09 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 1.90. 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.

Goldman have made an estimate for Silvergate Capital Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 26, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $115 to $70. The new note on the price target was released on October 06, 2022, representing the official price target for Silvergate Capital Corporation stock. Previously, the target price had yet another raise to $135, while BTIG Research analysts kept a Buy rating on SI stock.

The Average True Range (ATR) for Silvergate Capital Corporation is set at 5.61, with the Price to Sales ratio for SI stock in the period of the last 12 months amounting to 5.06. The Price to Book ratio for the last quarter was 0.88, with the Price to Cash per share for the same quarter was set at 65.46. Price to Free Cash Flow for SI in the course of the last twelve months was 11.44.

How has SI stock performed recently?

Silvergate Capital Corporation [SI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -29.11. With this latest performance, SI shares dropped by -40.93% in over the last four-week period, additionally sinking by -54.09% over the last 6 months – not to mention a drop of -81.85% 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 23.99, with the RSI for the last a single of trading hit 18.98, and the three-weeks RSI is set at 28.04 for Silvergate Capital Corporation [SI]. The present Moving Average for the last 50 days of trading for this stock 71.38, while it was recorded at 49.09 for the last single week of trading, and 93.35 for the last 200 days.

Silvergate Capital Corporation [SI]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Silvergate Capital Corporation [SI] shares currently have an operating margin of +48.62. Silvergate Capital Corporation’s Net Margin is presently recorded at +44.71.

Return on Equity for this stock inclined to 8.25, with Return on Assets sitting at 0.73.

Earnings analysis for Silvergate Capital Corporation [SI]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Silvergate Capital Corporation go to 33.80%.

Insider trade positions for Silvergate Capital Corporation [SI]

There are presently around $970 million, or 80.50% of SI stock, in the hands of institutional investors. The top three institutional holders of SI stocks are: VANGUARD GROUP INC with ownership of 2,911,669, which is approximately 2.263% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 2,271,469 shares of the stock with an approximate value of $89.54 million in SI stocks shares; and STATE STREET CORP, currently with $62.63 million in SI stock with ownership of nearly 10.21% of the company’s market capitalization.

Positions in Silvergate Capital Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 161 institutional holders increased their position in Silvergate Capital Corporation [NYSE:SI] by around 3,795,018 shares. Additionally, 127 investors decreased positions by around 3,177,464 shares, while 29 investors held positions by with 17,634,437 shares. The mentioned changes placed institutional holdings at 24,606,919 shares, according to the latest SEC report filing. SI stock had 50 new institutional investments in for a total of 727,056 shares, while 52 institutional investors sold positions of 1,061,268 shares during the same period.

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