Laurion Capital Management LP Purchases New Shares in Silvergate Capital Co. (NYSE:SI)

Laurion Capital Management LP purchased a new stake in Silvergate Capital Co. (NYSE:SI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,257 shares of the company’s stock, valued at approximately $1,956,000. Laurion Capital Management LP owned 0.07% of Silvergate Capital at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SI. Principal Financial Group Inc. bought a new stake in shares of Silvergate Capital during the 1st quarter valued at $280,000. HighTower Advisors LLC bought a new stake in shares of Silvergate Capital during the 1st quarter valued at $305,000. Russell Investments Group Ltd. bought a new stake in shares of Silvergate Capital during the 1st quarter valued at $3,800,000. New York State Common Retirement Fund lifted its position in shares of Silvergate Capital by 177.1% during the 1st quarter. New York State Common Retirement Fund now owns 39,074 shares of the company’s stock valued at $5,555,000 after acquiring an additional 24,974 shares during the period. Finally, Toronto Dominion Bank acquired a new position in shares of Silvergate Capital during the 1st quarter worth $114,000. Hedge funds and other institutional investors own 73.71% of the company’s stock.

In other news, Director Paul D. Colucci sold 10,000 shares of the stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $108.80, for a total value of $1,088,000.00. Following the completion of the sale, the director now owns 95,149 shares of the company’s stock, valued at $10,352,211.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Kathleen Fraher sold 1,200 shares of the stock in a transaction dated Wednesday, August 4th. The shares were sold at an average price of $103.02, for a total value of $123,624.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,231 shares of company stock valued at $12,214,913. Insiders own 8.50% of the company’s stock.

SI traded up $7.95 on Thursday, reaching $164.90. The stock had a trading volume of 34,908 shares, compared to its average volume of 1,156,770. Silvergate Capital Co. has a fifty-two week low of $15.52 and a fifty-two week high of $187.86. The firm has a 50-day moving average of $117.80 and a 200-day moving average of $113.61. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 71.67 and a beta of 2.60.

Silvergate Capital (NYSE:SI) last issued its earnings results on Monday, July 19th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.29. Silvergate Capital had a return on equity of 9.22% and a net margin of 40.03%. The business had revenue of $42.45 million during the quarter, compared to analysts’ expectations of $36.43 million. Sell-side analysts anticipate that Silvergate Capital Co. will post 2.98 EPS for the current fiscal year.

SI has been the subject of a number of research analyst reports. Zacks Investment Research cut Silvergate Capital from a “strong-buy” rating to a “sell” rating in a report on Wednesday, September 22nd. Morgan Stanley reissued a “buy” rating and set a $158.00 price target on shares of Silvergate Capital in a report on Friday, October 8th. Finally, Wedbush lowered their price target on Silvergate Capital from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, September 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $123.67.

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

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