BofA Securities slashes price target on Silvergate Capital Corporation [SI] – find out why.

Silvergate Capital Corporation [NYSE: SI] loss -10.75% or -3.0 points to close at $24.90 with a heavy trading volume of 10431817 shares. The company report on November 16, 2022 that Silvergate Provides Mid-Quarter Update and Announces Participation in Oppenheimer’s 5th Blockchain & Digital Assets Summit.


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Silvergate Capital Corporation (“Silvergate” or the “Company”) (NYSE: SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced that Chief Executive Officer Alan Lane will provide a mid-quarter business update at Oppenheimer’s 5th Blockchain & Digital Assets Summit at 2:55 p.m. ET on Thursday, November 17, 2022.

Interested investors and other parties can access a live webcast of the fireside chat by visiting the investor relations section of Silvergate’s website at ir.silvergate.com. An online replay will be available on the same website following the presentation.

It opened the trading session at $28.95, the shares rose to $29.00 and dropped to $24.45, the range by which the price of stock traded the whole day. The daily chart for SI points out that the company has recorded -64.63% loss over the past six months. However, it is still 4.63% lower than its most recent low trading price.

If we look at the average trading volume of 1.72M shares, SI reached to a volume of 10431817 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 $68.36 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 2.10. 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 Neutral, with their previous recommendation back on November 10, 2022. While these analysts kept the previous recommendation, Goldman raised their target price from $108 to $64. The new note on the price target was released on October 26, 2022, representing the official price target for Silvergate Capital Corporation stock. Previously, the target price had yet another drop from $115 to $70, while Wells Fargo kept a Underweight rating on SI stock.

The Average True Range (ATR) for Silvergate Capital Corporation is set at 5.98, with the Price to Sales ratio for SI stock in the period of the last 12 months amounting to 3.51. The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 59.24. Price to Free Cash Flow for SI in the course of the last twelve months was 3.89.

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 -27.66. With this latest performance, SI shares dropped by -54.83% in over the last four-week period, additionally sinking by -64.63% over the last 6 months – not to mention a drop of -87.46% 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 22.03, with the RSI for the last a single of trading hit 19.13, and the three-weeks RSI is set at 25.23 for Silvergate Capital Corporation [SI]. The present Moving Average for the last 50 days of trading for this stock 62.12, while it was recorded at 29.80 for the last single week of trading, and 90.52 for the last 200 days.

Silvergate Capital Corporation [SI]: A deeper dive into fundamental analysis

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.

Silvergate Capital Corporation [SI]: An earnings per share (EPS) analysis

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%.

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

There are presently around $619 million, or 80.20% of SI stock, in the hands of institutional investors. The top three institutional holders of SI stocks are: VANGUARD GROUP INC with ownership of 2,898,115, which is approximately -0.466% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 2,111,902 shares of the stock with an approximate value of $52.59 million in SI stocks shares; and STATE STREET CORP, currently with $42.01 million in SI stock with ownership of nearly 6.188% 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 146 institutional holders increased their position in Silvergate Capital Corporation [NYSE:SI] by around 2,808,946 shares. Additionally, 125 investors decreased positions by around 2,536,017 shares, while 34 investors held positions by with 19,502,261 shares. The mentioned changes placed institutional holdings at 24,847,224 shares, according to the latest SEC report filing. SI stock had 48 new institutional investments in for a total of 1,183,064 shares, while 34 institutional investors sold positions of 322,310 shares during the same period.

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