Silvergate Capital Co. (NYSE:SI) CEO Sells $1,139,737.50 in Stock

Silvergate Capital Co. (NYSE:SI) CEO Alan J. Lane sold 11,250 shares of the firm’s stock in a transaction that occurred on Thursday, June 10th. The shares were sold at an average price of $101.31, for a total transaction of $1,139,737.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at $7,598,250. The transaction was disclosed in a document filed with the SEC, which is available at this link.

NYSE SI traded down $5.03 during trading hours on Thursday, reaching $101.18. The company’s stock had a trading volume of 758,510 shares, compared to its average volume of 1,489,998. The company’s fifty day simple moving average is $116.28. The firm has a market capitalization of $2.56 billion, a PE ratio of 60.23 and a beta of 2.62. Silvergate Capital Co. has a 52 week low of $12.05 and a 52 week high of $187.86. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.72 and a current ratio of 0.85.

Silvergate Capital (NYSE:SI) last issued its quarterly earnings data on Monday, April 19th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $31.11 million during the quarter, compared to analyst estimates of $29.93 million. Silvergate Capital had a net margin of 32.67% and a return on equity of 8.81%. On average, sell-side analysts expect that Silvergate Capital Co. will post 2.05 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in SI. ARK Investment Management LLC raised its holdings in Silvergate Capital by 207.5% during the 1st quarter. ARK Investment Management LLC now owns 1,939,369 shares of the company’s stock worth $275,720,000 after purchasing an additional 1,308,580 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in Silvergate Capital by 738.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,093,466 shares of the company’s stock worth $155,458,000 after purchasing an additional 963,113 shares during the last quarter. EJF Capital LLC raised its holdings in Silvergate Capital by 274.0% during the 1st quarter. EJF Capital LLC now owns 506,059 shares of the company’s stock worth $71,946,000 after purchasing an additional 370,759 shares during the last quarter. BlackRock Inc. raised its holdings in Silvergate Capital by 27.8% during the 1st quarter. BlackRock Inc. now owns 1,463,597 shares of the company’s stock worth $208,079,000 after purchasing an additional 318,786 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in Silvergate Capital during the 1st quarter worth approximately $43,480,000. Hedge funds and other institutional investors own 72.84% of the company’s stock.

A number of research firms have recently weighed in on SI. Barclays raised their price target on shares of Silvergate Capital from $85.00 to $165.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 13th. Wedbush raised their price target on shares of Silvergate Capital from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, March 2nd. Zacks Investment Research downgraded shares of Silvergate Capital from a “hold” rating to a “sell” rating in a research note on Saturday, April 24th. Finally, Canaccord Genuity raised their price target on shares of Silvergate Capital from $90.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, March 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Silvergate Capital has an average rating of “Buy” and an average price target of $132.29.

Silvergate Capital Company Profile

Silvergate Capital Corporation operates as a bank holding company for Silvergate Bank that provides banking products and services to business and individual clients in the United States and internationally. The company accepts deposit products, including interest and noninterest bearing demand accounts, money market and savings accounts, and certificates of deposit accounts.

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Insider Buying and Selling by Quarter for Silvergate Capital (NYSE:SI)

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