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. Its loan products comprise one-to-four family real estate loans, multi-family real estate loans, commercial real estate loans, construction loans, commercial and industrial loans, mortgage warehouse loans, and reverse mortgage loans, as well as consumer loans and other loans secured by personal property. The company also provides cash management services for digital currency-related businesses. The company was founded in 1988 and is headquartered in La Jolla, California.
IPO Year: 2019
Exchange: NYSE
Website: silvergate.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/6/2023 | Neutral → Sell | Compass Point | |
| 3/6/2023 | $9.00 → $4.00 | Neutral → Underperform | Wedbush |
| 3/2/2023 | $16.00 → $10.00 | Buy → Neutral | Compass Point |
| 3/2/2023 | Neutral → Underweight | JP Morgan | |
| 3/2/2023 | $25.00 → $9.00 | Buy → Hold | Canaccord Genuity |
| 3/1/2023 | $25.00 → $16.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 1/9/2023 | $15.00 → $9.00 | Outperform → Neutral | Wedbush |
| 1/6/2023 | $36.00 → $14.00 | Buy → Hold | Craig Hallum |
| 1/6/2023 | $37.00 → $8.00 | Neutral → Underperform | BofA Securities |
| 1/6/2023 | $30.00 → $14.00 | Overweight → Neutral | JP Morgan |
Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced the promotion of Ben Reynolds to President, and appointment of Kate Fraher as Chief Risk Officer, of both the Company and its subsidiary, Silvergate Bank. In their new roles, Ben and Kate will continue reporting to Alan Lane, CEO of Silvergate and the bank. "We are excited about these new roles, which will benefit Silvergate as we continue to grow and mature as an organization," said Alan Lane, CEO of Silvergate. "Serving the digital asset industry requires that we continue to innovate and deliver prod
Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital currency industry, today announced the appointment of Mary-Margaret Henke to the board of directors of both the Company and its subsidiary bank, Silvergate Bank. "I am fortunate to be joining Silvergate's board during this period of continued evolution for both the bank and the digital assets industry," said Mary-Margaret Henke. "I look forward to working in tandem with my fellow Board members and management to ensure the Company remains a leader in innovative banking solutions." "Mary-Margaret's extensive knowledge of the financial
Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital currency industry, today announced the appointment of Rebecca Rettig to the board of directors for both the Company and its subsidiary bank, Silvergate Bank. "I am honored to join Silvergate's board at this moment of evolution in the bank's history and the digital asset ecosystem," said Rebecca Rettig. "I look forward to working with Silvergate's leadership and my fellow board members to strengthen the Company's leadership position in this evolving and innovative industry." "Rebecca's broad wealth of knowledge in the blockchain and
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4 - Silvergate Capital Corp (0001312109) (Issuer)
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4/A - Silvergate Capital Corp (0001312109) (Issuer)
4 - Silvergate Capital Corp (0001312109) (Issuer)
4 - Silvergate Capital Corp (0001312109) (Issuer)
Compass Point downgraded Silvergate Capital from Neutral to Sell
Wedbush downgraded Silvergate Capital from Neutral to Underperform and set a new price target of $4.00 from $9.00 previously
Compass Point downgraded Silvergate Capital from Buy to Neutral and set a new price target of $10.00 from $16.00 previously
JP Morgan downgraded Silvergate Capital from Neutral to Underweight
Canaccord Genuity downgraded Silvergate Capital from Buy to Hold and set a new price target of $9.00 from $25.00 previously
Keefe Bruyette downgraded Silvergate Capital from Outperform to Mkt Perform and set a new price target of $16.00 from $25.00 previously
Wedbush downgraded Silvergate Capital from Outperform to Neutral and set a new price target of $9.00 from $15.00 previously
Craig Hallum downgraded Silvergate Capital from Buy to Hold and set a new price target of $14.00 from $36.00 previously
BofA Securities downgraded Silvergate Capital from Neutral to Underperform and set a new price target of $8.00 from $37.00 previously
JP Morgan downgraded Silvergate Capital from Overweight to Neutral and set a new price target of $14.00 from $30.00 previously
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Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced that the Company has suspended the payment of dividends on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, in order to preserve capital. This decision reflects the Company's focus on maintaining a highly liquid balance sheet with a strong capital position as it navigates recent volatility in the digital asset industry. The Company continues to maintain a cash position in excess of its digital asset customer related deposits. The Company's Board of Directors will re-evaluate th
Silvergate Capital Corporation ("Silvergate" or "Company") (NYSE:SI) and its wholly-owned subsidiary, Silvergate Bank ("Bank"), today announced financial results for the three and twelve months ended December 31, 2022. Fourth Quarter 2022 Commentary During the fourth quarter of 2022, the digital asset industry experienced a transformational shift, with significant over-leverage in the industry leading to several high-profile bankruptcies. These dynamics created a crisis of confidence across the ecosystem and led many industry participants to shift to a "risk off" position across digital asset trading platforms. In turn, the Company saw significant outflows of deposits during the quarter a
Company to Host Conference Call Today at 8:00 a.m. ET to Discuss Recent Developments Silvergate Capital Corporation ("Silvergate" or the "Company") (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced select unaudited and preliminary financial metrics for the three months ended December 31, 2022 and provided a business update. These metrics are subject to change in connection with conducting and completing normal closing procedures and an audit for the year ended December 31, 2022. The Company will also host a conference call at 8:00 a.m. (Eastern Time) today, January 5, 2023, to discuss certain recent developments.
Silvergate Capital Corporation ("Silvergate" or the "Company") (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced that it will release select unaudited and preliminary fourth quarter 2022 financial metrics before market open on Thursday, January 5, 2023, with a conference call to follow at 8:00 a.m. (Eastern Time). The conference call can be accessed live by dialing 1-844-200-6205, or for international callers 1-929-526-1599, and entering the access code 712040. A replay will be available starting at 10:00 a.m. (Eastern Time) on January 5, 2023 and can be accessed by dialing 1-866-813-9403, or for international ca
Silvergate Capital Corporation ("Silvergate" or "Company") (NYSE:SI) and its wholly-owned subsidiary, Silvergate Bank ("Bank"), today announced financial results for the three and nine months ended September 30, 2022. Third Quarter 2022 Highlights Net income for the quarter was $43.3 million, compared to $38.6 million for the second quarter of 2022, and $23.5 million for the third quarter of 2021 Net income available to common shareholders for the quarter was $40.6 million, or $1.28 per diluted common share, compared to net income of $35.9 million, or $1.13 per diluted share, for the second quarter of 2022, and net income of $23.5 million, or $0.88 per diluted share, for the third qua
Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced that it will release its third quarter 2022 financial results before market open on Tuesday, October 18, 2022, with a conference call to follow at 11:00 a.m. (Eastern Time) the same day. The conference call can be accessed live by dialing 1-844-200-6205, or for international callers 1-929-526-1599, and entering the access code 636898. A replay will be available starting at 1:00 p.m. (Eastern Time) on October 18, 2022 and can be accessed by dialing 1-866-813-9403, or for international callers +44-204-52
Silvergate Capital Corporation ("Silvergate" or "Company") (NYSE:SI) and its wholly-owned subsidiary, Silvergate Bank ("Bank"), today announced financial results for the three and six months ended June 30, 2022. Second Quarter 2022 Highlights Net income for the quarter was $38.6 million, compared to $27.4 million for the first quarter of 2022, and $20.9 million for the second quarter of 2021 Net income available to common shareholders for the quarter was $35.9 million, or $1.13 per diluted common share, compared to net income of $24.7 million, or $0.79 per diluted share, for the first quarter of 2022, and net income of $20.9 million, or $0.80 per diluted share, for the second quarter o
Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital currency industry, today announced that it will release its second quarter 2022 financial results before market open on Tuesday, July 19, 2022, with a conference call to follow at 11:00 a.m. (Eastern Time) the same day. The conference call can be accessed live by dialing 1-844-200-6205, or for international callers 1-929-526-1599, and entering the access code 200185. A replay will be available starting at 1:00 p.m. (Eastern Time) on July 19, 2022 and can be accessed by dialing 1-866-813-9403, or for international callers +44-204-525-
Silvergate Capital Corporation ("Silvergate" or "Company") (NYSE:SI) and its wholly-owned subsidiary, Silvergate Bank ("Bank"), today announced financial results for the three months ended March 31, 2022. First Quarter 2022 Highlights Net income for the quarter was $27.4 million, compared to $21.4 million for the fourth quarter of 2021, and $12.7 million for the first quarter of 2021 Net income available to common shareholders for the quarter was $24.7 million, or $0.79 per diluted common share, compared to net income of $18.4 million, or $0.66 per diluted share, for the fourth quarter of 2021, and net income of $12.7 million, or $0.55 per diluted share, for the first quarter of 2021
Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital currency industry, today announced that it will release its first quarter 2022 financial results before market open on Tuesday, April 19, 2022, with a conference call to follow at 11:00 a.m. (Eastern Time) the same day. The conference call can be accessed live by dialing 1-844-200-6205, or for international callers 1-929-526-1599, and entering the access code 487806. A replay will be available starting at 1:00 p.m. (Eastern Time) on April 19, 2022 and can be accessed by dialing 1-866-813-9403, or for international callers +44-204-525
Silvergate Capital Corporation ("Silvergate" or "Company") (NYSE:SI), the holding company for Silvergate Bank ("Bank"), today announced that on March 17, 2023 it received a letter from the New York Stock Exchange (the "NYSE") notifying the Company that it is not in compliance with the NYSE's continued listing standards given the Company failed to timely file its Annual Report on Form 10-K for the year ended December 31, 2022. Although Company management has been working diligently to complete required information for the Form 10-K, and a substantial part of such information has been completed, the Company needs additional time to complete tasks related to its Form 10-K and its independent r
Company Considering How to Best Preserve Residual Value of its Assets Silvergate Capital Corporation ("Silvergate" or "Company") (NYSE:SI), the holding company for Silvergate Bank ("Bank"), today announced its intent to wind down operations and voluntarily liquidate the Bank in an orderly manner and in accordance with applicable regulatory processes. In light of recent industry and regulatory developments, Silvergate believes that an orderly wind down of Bank operations and a voluntary liquidation of the Bank is the best path forward. The Bank's wind down and liquidation plan includes full repayment of all deposits. The Company is also considering how best to resolve claims and preserve t
Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced that the Company has suspended the payment of dividends on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, in order to preserve capital. This decision reflects the Company's focus on maintaining a highly liquid balance sheet with a strong capital position as it navigates recent volatility in the digital asset industry. The Company continues to maintain a cash position in excess of its digital asset customer related deposits. The Company's Board of Directors will re-evaluate th
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Jan. 26, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Silvergate Capital Corporation ("Silvergate" or "the Company") (NYSE:SI) investors that a lawsuit filed on behalf of investors that purchased securities between November 9, 2021 and November 17, 2022. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to recov
Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced a business update in connection with the recently announced bankruptcy filing by Genesis Global Holdco, LLC and its subsidiaries Genesis Global Capital LLC and Genesis Asia Pacific PTE LTD (collectively, "Genesis"). Silvergate's deposit relationship with Genesis was less than $2.5 million as of both December 31, 2022 and January 19, 2023. Genesis is not a custodian for Silvergate's bitcoin-collateralized SEN Leverage loans and Silvergate has no outstanding loans to nor investments in Genesis. While th
Silvergate Capital Corporation ("Silvergate" or "Company") (NYSE:SI) and its wholly-owned subsidiary, Silvergate Bank ("Bank"), today announced financial results for the three and twelve months ended December 31, 2022. Fourth Quarter 2022 Commentary During the fourth quarter of 2022, the digital asset industry experienced a transformational shift, with significant over-leverage in the industry leading to several high-profile bankruptcies. These dynamics created a crisis of confidence across the ecosystem and led many industry participants to shift to a "risk off" position across digital asset trading platforms. In turn, the Company saw significant outflows of deposits during the quarter a
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Silvergate Capital Corporation ("Silvergate") (NYSE:SI) investors that a lawsuit filed on behalf of investors that purchased Silvergate Capital Corporation (NYSE:SI) between November 9, 2021 and January 5, 2023, both dates inclusive. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' op
Philadelphia, Pennsylvania--(Newsfile Corp. - January 12, 2023) - It is alleged that Silvergate Capital Corporation (NYSE:SI) and its officers failed to disclose that Silvergate's platform lacked basic controls to detect money laundering and that as a result certain Silvergate customers were able to engage in money laundering in amounts exceeding $425 million, exposing Silvergate to regulatory scrutiny and damages.Current Silvergate shareholders who have continuously held shares since at least November 9, 2021, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them. If you would like to learn mo
Philadelphia, Pennsylvania--(Newsfile Corp. - January 6, 2023) - According to a recently filed shareholder complaint, Silvergate Capital Corporation (NYSE:SI), a digital currency company, and certain of its officers, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, it is alleged that the Company and its officers failed to disclose that the Company's platform lacked sufficient controls and procedures to detect instances of money laundering such that Silvergate's customers had engaged in money laundering in amounts exceeding $425 million and, as a result, Silvergate wa
Company to Host Conference Call Today at 8:00 a.m. ET to Discuss Recent Developments Silvergate Capital Corporation ("Silvergate" or the "Company") (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced select unaudited and preliminary financial metrics for the three months ended December 31, 2022 and provided a business update. These metrics are subject to change in connection with conducting and completing normal closing procedures and an audit for the year ended December 31, 2022. The Company will also host a conference call at 8:00 a.m. (Eastern Time) today, January 5, 2023, to discuss certain recent developments.
24 Exchange, a trading platform that secured $14 million in funding in late 2021, which included support from Point72 Ventures led by Steve Cohen, has decided to discontinue its spot cryptocurrency product. This comes as global regulators intensify their scrutiny of cryptocurrencies. The Bermuda-based exchange, which was founded in 2018 and commenced operations in 2019, initially enjoyed robust support for its crypto trading product. However, the company’s Chief Executive Officer Dmitri Galinov told Bloomberg that there was a decline in interest and demand following the collapse of FTX (CRYPTO: FTT) and crypto-affiliated entities such as Signature Bank (OTC:SBNY) and Silvergate Capital Co
High-ranking Binance executive Guangying Chen, a trusted ally of Binance CEO Changpeng Zhao, was the principal controller of five bank accounts associated with the supposedly autonomous U.S. subsidiary of the colossal crypto exchange, Binance.US, according to disclosed bank records. Among these accounts, one contained funds belonging to American clients, Reuters reported. These accounts, under the stewardship of Chen, were approved by U.S. financial institution Silvergate Bank (NYSE:SI) in 2019 and 2020, the documents from these periods revealed. Consequently, Chen and her subordinates were given the authorization to mobilize funds in these bank accounts. To execute payments, even for pa
Patrick Hillmann, the chief communication officer of Binance, addressed a recent Reuters report that alleged Binance had commingled customer funds, pointing out several flaws in the reporting and emphasizing the transparency of Binance's operations. Notably, Hillmann did not categorically state that the Reuters article was false. The world's largest cryptocurrency exchange has been accused of commingling customer funds with company revenue, in violation of U.S. financial rules. Quoting sources familiar with the matter, the report stated that billions of dollars were mixed almost daily in accounts held at U.S. lender Silvergate Bank (NYSE:SI). A bank record reviewed by the news agency sho
The world's largest cryptocurrency exchange Binance allegedly violated U.S. financial rules by commingling customer funds with company revenue, in accounts held at U.S. lender Silvergate Bank (NYSE:SI), with sums running into billions of dollars. A Tuesday Reuters report quoting unnamed sources stated that a bank record reviewed by the news agency showed an instance of $20 million from a corporate account being mixed with $15 million from an account that received customer money on Feb. 10, 2021. A Binance spokesman denied commingling funds in a statement shared with Reuters. “There was no commingling at any time because these are 100% corporate funds,” said Binance spokesman Brad Jaffe, ac
Siemens AG (OTC: SIEGY) reported Q2 FY23 revenue growth of 14% Y/Y (+15% Y/Y on a comparable basis) to €19.4 billion. Orders rose 13% Y/Y (+15% Y/Y on a comparable basis) to €23.6 billion, led by increased large orders in the Mobility business. Q2 FY23 revenues came above the consensus estimate of €18.59 billion, as per Reuters. Profit Industrial Business increased 47% Y/Y to €2.6 billion (vs. consensus of €2.70 billion), aided by the highest-ever quarterly profit generation at Smart Infrastructure and Digital Industries. Also, margins expanded to 14.2% from 11.0% a year ago. Basic EPS increased significantly to €4.39 from €1.29 in the prior year. EPS before purchase price allocation (
Jamie Dimon, the CEO and chairman of JPMorgan Chase & Co (NYSE:JPM), expressed concern about the impact of potential Federal Reserve overregulation on American banks. His remarks come in the wake of several significant banking failures this year, including Signature Bank (OTC:SBNY), Silvergate Capital Corp.'s (NYSE:SI) Silicon Valley Bank and First Republic Bank (OTC:FRCB), which was bought by JPMorgan Chase on May 1. In an interview with Bloomberg, Dimon pointedly criticized the approach to supervision in the sector, suggesting the key players to hold accountable for these failures are the chief executives and board members of these institutions, rather than focusing solely on compliance
Silvergate Capital Corporation (NYSE:SI) on Thursday announced that it will begin a series of substantial headcount reductions starting May 12. Approximately 230 employees will be affected in this first wave of separations. Further reductions are expected to take place on June 30, Aug. 30, and Nov. 30 this year or later. The decision comes as part of the company's ongoing efforts to wind down operations and voluntarily liquidate its wholly-owned subsidiary, Silvergate Bank, in an orderly manner, complying with applicable regulatory processes. Also Read: Odsy Network Scores $7.5M In Seed Round Backed By Blockchange Ventures, Rubik, DAOs Following the initial reduction in May, the remaini
- Reuters
-SEC Filing
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