Keefe Bruyette analyst Michael Perito keeps an Outperform rating on Silvergate Capital with a $58 price target after BlockFi formally filed Chapter 11 bankruptcy on Monday. While this was a larger relationship for Silvergate at some point in the past, the company’s exposure to BlockFi today is "very modest" at about $12.4M of deposits with no lending exposure, Perito tells investors in a research note.
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