Silvergate Capital Co. (NYSE:SI) CEO Alan J. Lane Sells 75,000 Shares

Silvergate Capital Co. (NYSE:SI) CEO Alan J. Lane sold 75,000 shares of the company’s stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $105.61, for a total transaction of $7,920,750.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $7,920,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of NYSE:SI opened at $101.18 on Friday. 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 1-year low of $12.05 and a 1-year high of $187.86. The business’s fifty day simple moving average is $116.28. The company has a quick ratio of 0.72, a current ratio of 0.85 and a debt-to-equity ratio of 0.02.

Silvergate Capital (NYSE:SI) last issued its earnings results on Monday, April 19th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.04. The company had revenue of $31.11 million for the quarter, compared to analysts’ expectations 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 predict that Silvergate Capital Co. will post 2.05 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of SI. State of Wisconsin Investment Board acquired a new stake in shares of Silvergate Capital during the fourth quarter worth $238,000. SG Americas Securities LLC acquired a new stake in shares of Silvergate Capital in the 4th quarter worth about $234,000. BlackRock Inc. increased its holdings in shares of Silvergate Capital by 17.0% in the 4th quarter. BlackRock Inc. now owns 1,144,811 shares of the company’s stock worth $85,071,000 after acquiring an additional 166,603 shares during the period. San Luis Wealth Advisors LLC acquired a new stake in shares of Silvergate Capital in the 4th quarter worth about $2,097,000. Finally, Iridian Asset Management LLC CT acquired a new stake in shares of Silvergate Capital in the 4th quarter worth about $1,568,000. 72.84% of the stock is currently owned by institutional investors.

SI has been the subject of several analyst reports. Barclays upped their target price 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. Zacks Investment Research cut shares of Silvergate Capital from a “hold” rating to a “sell” rating in a report on Saturday, April 24th. Canaccord Genuity upped their price target on shares of Silvergate Capital from $90.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, March 30th. Finally, Wedbush upped their price target on shares of Silvergate Capital from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, March 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Silvergate Capital presently has an average rating of “Buy” and a consensus target price of $132.29.

About Silvergate Capital

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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