Victory Capital Management Inc. Takes Position in Silvergate Capital Co. (NYSE:SI)

Victory Capital Management Inc. acquired a new stake in shares of Silvergate Capital Co. (NYSE:SI) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,874 shares of the company’s stock, valued at approximately $266,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Silvergate Capital during the 4th quarter valued at $43,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Silvergate Capital during the 4th quarter valued at $45,000. Meeder Asset Management Inc. purchased a new stake in shares of Silvergate Capital during the 1st quarter valued at $69,000. Dorsey Wright & Associates grew its stake in shares of Silvergate Capital by 135.9% during the 1st quarter. Dorsey Wright & Associates now owns 927 shares of the company’s stock valued at $132,000 after buying an additional 534 shares during the period. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Silvergate Capital during the 4th quarter valued at $149,000. 72.84% of the stock is owned by institutional investors.

SI has been the subject of a number of research reports. Barclays upped their price target on shares of Silvergate Capital from $85.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 13th. Wedbush upped their price target on shares of Silvergate Capital from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 2nd. Canaccord Genuity upped their price target on shares of Silvergate Capital from $90.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 30th. Finally, Zacks Investment Research cut shares of Silvergate Capital from a “hold” rating to a “sell” rating in a research report on Saturday, April 24th. One equities research 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. Silvergate Capital has a consensus rating of “Buy” and a consensus target price of $132.29.

In other news, Director Karen F. Brassfield sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 1st. The shares were sold at an average price of $117.30, for a total value of $469,200.00. Also, Director Scott A. Reed sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $115.47, for a total transaction of $1,154,700.00. Following the completion of the sale, the director now owns 12,765 shares in the company, valued at approximately $1,473,974.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,250 shares of company stock worth $10,684,388. Company insiders own 8.50% of the company’s stock.

Shares of SI stock opened at $101.18 on Friday. Silvergate Capital Co. has a 12 month low of $12.05 and a 12 month high of $187.86. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.85 and a quick ratio of 0.72. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 60.23 and a beta of 2.62. The business has a fifty day moving average price of $116.28.

Silvergate Capital (NYSE:SI) last issued its quarterly earnings data on Monday, April 19th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $31.11 million for 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%. Research analysts predict that Silvergate Capital Co. will post 2.05 EPS for the current fiscal year.

Silvergate Capital 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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Institutional Ownership by Quarter for Silvergate Capital (NYSE:SI)

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