Silvergate Capital Corporation [SI] Stock trading around $5.77 per share: What’s Next?

Silvergate Capital Corporation [NYSE: SI] surged by $0.05 during the normal trading session on Friday and reaching a high of $6.34 during the day while it closed the day at $5.77. 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.

Silvergate Capital Corporation stock has also loss -59.73% of its value over the past 7 days. However, SI stock has declined by -78.96% in the 3 months of the year. Over the past six months meanwhile, it has lost -93.67% and lost -66.84% year-on date.

The market cap for SI stock reached $181.12 million, with 31.66 million shares outstanding and 25.71 million shares in the current float. Compared to the average trading volume of 10.43M shares, SI reached a trading volume of 43624266 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $11.12 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 3.30. 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.

JP Morgan have made an estimate for Silvergate Capital Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on March 02, 2023. While these analysts kept the previous recommendation, Compass Point dropped their target price from $16 to $10. The new note on the price target was released on March 02, 2023, representing the official price target for Silvergate Capital Corporation stock. Previously, the target price had yet another drop from $25 to $9, while Canaccord Genuity kept a Hold rating on SI stock. On March 01, 2023, analysts decreased their price target for SI shares from 25 to 16.

The Average True Range (ATR) for Silvergate Capital Corporation is set at 2.67, with the Price to Sales ratio for SI stock in the period of the last 12 months amounting to 0.55. The Price to Book ratio for the last quarter was 0.14, with the Price to Cash per share for the same quarter was set at 66.94. Price to Free Cash Flow for SI in the course of the last twelve months was 1.48.

SI stock trade performance evaluation

Silvergate Capital Corporation [SI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -59.73. With this latest performance, SI shares dropped by -64.47% in over the last four-week period, additionally sinking by -93.67% over the last 6 months – not to mention a drop of -95.67% 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 29.21, with the RSI for the last a single of trading hit 21.59, and the three-weeks RSI is set at 33.11 for Silvergate Capital Corporation [SI]. The present Moving Average for the last 50 days of trading for this stock 15.14, while it was recorded at 10.56 for the last single week of trading, and 53.58 for the last 200 days.

Silvergate Capital Corporation [SI]: An insightful look at the core fundamentals

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

Earnings per share (EPS) analysis for Silvergate Capital Corporation [SI] stock

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%.

Silvergate Capital Corporation [SI]: Insider Ownership positions

There are presently around $178 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 2,999,083, which is approximately 3.484% of the company’s market cap and around 0.20% of the total institutional ownership; STATE STREET CORP, holding 2,950,198 shares of the stock with an approximate value of $17.02 million in SI stocks shares; and BLOCK.ONE, currently with $14.78 million in SI stock with ownership of nearly New of the company’s market capitalization.

Positions in Silvergate Capital Corporation stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 150 institutional holders increased their position in Silvergate Capital Corporation [NYSE:SI] by around 16,638,627 shares. Additionally, 163 investors decreased positions by around 10,504,197 shares, while 20 investors held positions by with 3,767,253 shares. The mentioned changes placed institutional holdings at 30,910,077 shares, according to the latest SEC report filing. SI stock had 66 new institutional investments in for a total of 7,628,359 shares, while 107 institutional investors sold positions of 7,002,650 shares during the same period.


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