Look Past The Setbacks And Give Silvergate Capital Corporation (NYSE: SI) Another Chance

Silvergate Capital Corporation (NYSE:SI) currently has a daily average trading volume of 14.35M but it saw 12054213 shares traded on Thursday. With a market cap of 75.62M USD, stock’s current market price of $2.12 came falling about -8.23 while comparing to the previous closing price of $2.31. In past 52 weeks, the stock remained buoying in the range of price level as high as $162.65 and as low as $1.69. In the recent trading on the day, stock has struck highest price mark of $2.59 while lowest mark touched by it was $2.09.

Taking a look at 20-day trading activity of Silvergate Capital Corporation (SI) gives us an average price of $9.00, while its current price level is -98.70% below from 52-week high level whereas it is 25.44% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $12.74 while that of 200 days or SMA-200 reads an average of $50.43. A closer look into the stock’s movement over the week reveals that its volatility is standing at 47.16% during that period while stretching the period over a month that decreases to 27.21%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 24.38 which implies that the stock is in oversold territory.

The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the Wedbush which downgraded the stock as “Underperform” in its note to investors issued on March 06, 2023, recommending a price target of between $9 and $4 for it.

Over the week, SI’s stock price is moving -25.35% down while it is -87.79% when we observe its performance for the past one month. Year-to-date it is -87.82% down and over the past year, the stock is showing a downside performance of -98.24%.

The latest quarterly earnings report issued by the company was for quarter ended 12/30/2022, when its quarterly earnings per share (EPS) of $0.48 beaten by the consensus estimate of $0.64 for the same. The company is expected to be releasing its next quarterly report in 04/18/2023, for which analysts forecasted an EPS of $0.01 while estimate for next year EPS is $0.84. For SI, analysts are forecasting an EPS-growth rate of -77.20% for current year and estimate for EPS growth in next year is 57.10%. In next quarter, company is expected to be making quarterly sales of $38.35 million as analysts are expecting the sales for current fiscal year at $154.53 million and seeing the company making $165.74 million in sales next year. Moreover, analysts are in estimates of $36.57 million for current-quarter revenue.

Currently, Silvergate Capital Corporation’s total number of outstanding shares is 31.66M with 19.82% of that held by the insiders while 86.94% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 7.50% and return on equity (ROE) at 6.90%. It has a 1.60 of forward P/E ratio. Stock’s beta reads 2.56. Stock has a price to book (P/B) ratio of 0.05 while price to sale or P/S ratio amounts to 0.23. Its return on asset (ROA) is 0.60% on average.

A filing at the U.S. Securities and Exchange Commission revealed that SPDR S&P Regional Banking ETF came shrinking its share ownership by -0.13% in the Silvergate Capital Corporation (SI) decreasing its stake to 6.14% with control over 2585.0 shares in the company. As per SEC documents, SPDR S&P Regional Banking ETF sought 1,943,019 of company’s common stock of worth $27.03 million as per recent closing price of the stock. SPDR S&P Regional Banking ETF is not the only institutional holder which restructured its stake in Silvergate Capital Corporation, as Opportunity Trust picked 1,300,000 shares of worth $18.08 million to bring its holdings to a total of 1.07 million shares.