Silvergate Capital Corporation (SI): Why Is The Stock Strong?

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Silvergate Capital Corporation (NYSE:SI) has seen 1.18 million shares traded in the last trading session. The company, currently valued at $3.79B, closed the last trade at $123.32 per share which meant it lost -$5.17 on the day or -4.02% during that session. The SI stock price is -94.02% off its 52-week high price of $239.26 and 54.59% above the 52-week low of $56.00. The 3-month trading volume is 1.16 million shares.

The consensus among analysts is that Silvergate Capital Corporation (SI) is an Overweight stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 2 out of 8 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.71.

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Sporting -4.02% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/10/22 when the SI stock price touched $123.32 or saw a rise of 20.25%. Year-to-date, Silvergate Capital Corporation shares have moved -16.79%, while the 5-day performance has seen it change -17.22%. Over the past 30 days, the shares of Silvergate Capital Corporation (NYSE:SI) have changed -16.74%.

Wall Street analysts have a consensus price target for the stock at $215.50, which means that the shares’ value could jump 42.77% from current levels. The projected low price target is $164.00 while the price target rests at a high of $300.00. In that case, then, we find that the current price level is -143.27% off the targeted high while a plunge would see the stock gain -32.99% from current levels.

Silvergate Capital Corporation (SI) estimates and forecasts

Figures show that Silvergate Capital Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained 25.50% over the past 6 months, with this year growth rate of 116.18%, compared to 28.10% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 51.10% and 34.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 94.20%.

6 analysts offering their estimates for the company have set an average revenue estimate of $53 million for the current quarter. 5 have an estimated revenue figure of $56.54 million for the next quarter concluding in Mar 2022. Year-ago sales stood $26.76 million and $30.57 million respectively for this quarter and the next, and analysts expect sales will grow by 98.10% for the current quarter and 85.00% for the next.

SI Dividends

Silvergate Capital Corporation is expected to release its next earnings report between January 18 and January 24 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Silvergate Capital Corporation (NYSE:SI)’s Major holders

Insiders own 2.77% of the company shares, while shares held by institutions stand at 75.63% with a share float percentage of 77.78%. Investors are also buoyed by the number of investors in a company, with Silvergate Capital Corporation having a total of 345 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 1.83 million shares worth more than $210.85 million. As of Sep 29, 2021, Vanguard Group, Inc. (The) held 6.87% of shares outstanding.

The other major institutional holder is State Street Corporation, with the holding of over 1.69 million shares as of Sep 29, 2021. The firm’s total holdings are worth over $195.61 million and represent 6.37% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-S&P Regional Banking ETF and Vanguard Total Stock Market Index Fund. As of Sep 29, 2021, the former fund manager holds about 3.09% shares in the company for having 0.82 million shares of worth $94.83 million while later fund manager owns 0.68 million shares of worth $78.25 million as of Sep 29, 2021, which makes it owner of about 2.55% of company’s outstanding stock.