Silvergate Capital Corporation [SI] moved down -10.21: Why It’s Important

Silvergate Capital Corporation [NYSE: SI] loss -10.21% or -2.14 points to close at $18.83 with a heavy trading volume of 14211754 shares. The company report on January 27, 2023 that Silvergate Suspends Series A Preferred Stock Dividend.

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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 that the Company has suspended the payment of dividends on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, in order to preserve capital. This decision reflects the Company’s focus on maintaining a highly liquid balance sheet with a strong capital position as it navigates recent volatility in the digital asset industry. The Company continues to maintain a cash position in excess of its digital asset customer related deposits.

The Company’s Board of Directors will re-evaluate the payment of quarterly dividends as market conditions evolve.

It opened the trading session at $17.61, the shares rose to $21.8299 and dropped to $17.50, the range by which the price of stock traded the whole day. The daily chart for SI points out that the company has recorded -81.66% loss over the past six months. However, it is still -74.19% lower than its most recent low trading price.

If we look at the average trading volume of 7.78M shares, SI reached to a volume of 14211754 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 $15.67 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 2.70. 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.

Wedbush have made an estimate for Silvergate Capital Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 09, 2023. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $30 to $14. The new note on the price target was released on January 06, 2023, representing the official price target for Silvergate Capital Corporation stock. Previously, the target price had yet another drop from $36 to $14, while Craig Hallum kept a Hold rating on SI stock. On January 06, 2023, analysts decreased their price target for SI shares from 37 to 8.

The Average True Range (ATR) for Silvergate Capital Corporation is set at 2.87, with the Price to Sales ratio for SI stock in the period of the last 12 months amounting to 2.03. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 59.59. Price to Free Cash Flow for SI in the course of the last twelve months was 5.41.

Trading performance analysis for SI stock

Silvergate Capital Corporation [SI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 38.66. With this latest performance, SI shares dropped by -14.21% in over the last four-week period, additionally sinking by -81.66% over the last 6 months – not to mention a drop of -82.04% 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 56.23, with the RSI for the last a single of trading hit 62.48, and the three-weeks RSI is set at 50.07 for Silvergate Capital Corporation [SI]. The present Moving Average for the last 50 days of trading for this stock 18.15, while it was recorded at 16.65 for the last single week of trading, and 62.44 for the last 200 days.

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

Return on Equity for this stock declined to -84.80, with Return on Assets sitting at -6.85.

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 $442 million, or 79.90% 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 0.20% of the total institutional ownership; BLACKROCK INC., holding 2,111,902 shares of the stock with an approximate value of $39.77 million in SI stocks shares; and STATE STREET CORP, currently with $31.77 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 January and at the time of the January reporting period, where 130 institutional holders increased their position in Silvergate Capital Corporation [NYSE:SI] by around 3,123,066 shares. Additionally, 146 investors decreased positions by around 4,227,823 shares, while 26 investors held positions by with 16,103,954 shares. The mentioned changes placed institutional holdings at 23,454,843 shares, according to the latest SEC report filing. SI stock had 40 new institutional investments in for a total of 1,285,632 shares, while 58 institutional investors sold positions of 1,309,443 shares during the same period.


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