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Wedbush Keeps Their Buy Rating on Silvergate Capital (SI)

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Wedbush analyst David Chiaverini maintained a Buy rating on Silvergate Capital (SIResearch Report) yesterday and set a price target of $165.00. The company’s shares closed last Monday at $117.05.

According to TipRanks.com, Chiaverini is a 5-star analyst with an average return of 20.4% and a 65.8% success rate. Chiaverini covers the Financial sector, focusing on stocks such as Pacific Premier Bancorp, Valley National Bancorp, and Cathay General Bancorp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Silvergate Capital with a $195.63 average price target, a 66.3% upside from current levels. In a report issued on February 1, J.P. Morgan also maintained a Buy rating on the stock with a $175.00 price target.

See today’s best-performing stocks on TipRanks >>

Based on Silvergate Capital’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $48.26 million and net profit of $21.39 million. In comparison, last year the company earned revenue of $26.3 million and had a net profit of $9.12 million.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Silvergate Capital Corp. is a holding company, which engages in the provision of banking and loan services. It focuses on the financial infrastructure solutions and services for participants in the nascent and digital currency industry. The company was founded in 1988 and is headquartered in La Jolla, CA.

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