JPMorgan downgraded Silvergate Capital to Underweight from Neutral. The company reported a delay in its annual filing and said it is evaluating the impact that subsequent events since December 31, 2022, including the sale of investment securities beyond what was previously anticipated and disclosed, have on its ability to continue as a going concern, the analyst tells investors in a research note. With Silvergate having sold additional securities at a loss in January and February, "this reflects that the company is facing continued liquidity challenges," writes the firm.
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