Announcement • Aug 30
Silvergate Capital Corporation Announces Board Changes Silvergate Capital Corporation announced departure of Alan J. Lane, a former member of the Board, on August 15, 2023, by reducing the minimum size of the Board from seven to five and by reducing the maximum size of the Board from thirteen to seven. Announcement • May 17
Silvergate Capital Corporation Does Not Intend to Appeal the NYSE's Determination, and Expects its Securities to be Delisted from the NYSE Silvergate Capital Corporation announced that as previously disclosed, on March 17, 2023, the company was notified by the New York Stock Exchange (the ‘NYSE’) that, as the Company had not timely filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the ‘2022 10-K’), the NYSE would monitor the status of the Company’s late filing and related public disclosures for up to a six-month period from its due date, but that the NYSE could, in its sole discretion, commence delisting proceedings at any time during the period that is available to complete the filing, if circumstances warranted. Further, as previously disclosed on May 11, 2023, the NYSE suspended trading in the Company’s securities and indicated to the Company that it expects to commence the delisting of the Company’s securities after the Company informed the NYSE that it will not file the 2022 10-K or any subsequent periodic reports as required by Sections 13(a) or 15(d) under the Securities Exchange Act of 1934, as amended (the ‘Exchange Act’). Later on May 11, 2023, the Company was notified by the NYSE that it had determined to commence proceedings to delist the Company’s securities from the NYSE pursuant to Section 802.01E of the NYSE Listed Company Manual as a result of the foregoing. Also on May 11, 2023, the NYSE applied to the Securities and Exchange Commission (the ‘SEC’) to delist the Company’s securities. The Company does not intend to appeal the NYSE’s determination, and therefore, it is expected that the Company’s securities will be delisted from the NYSE and deregistered under Section 12(b) of the Exchange Act ten business days following the NYSE’s application to the SEC. As of May 12, 2023, it may be possible to trade the Company’s securities on the OTC Experts Market; however, the Company makes no recommendation as to the advisability of any such trading. Board Change • Mar 22
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. Independent Director Aanchal Gupta was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 11
Rebecca Rettig to Resign from the Boards of Directors of Silvergate Capital Corporation and Silvergate Bank On February 8, 2023, Rebecca Rettig notified Silvergate Capital Corporation (the "Company") of her resignation from the boards of directors (the “Boards”) of the Company and its wholly-owned subsidiary, Silvergate Bank (the “Bank”), as well as from any committees of such Boards on which she served, effective as of February 8, 2023. Ms. Rettig advised the Company that she has accepted an executive position at another company and is resigning due to her new commitments. Announcement • Jan 12
Rosen Law Firm Announces the Filing of A New Class Action Lawsuit on Behalf of Purchasers of the Securities of Silvergate Capital Corporation Rosen Law Firm announced the filing of a new class action lawsuit on behalf of purchasers of the securities of Silvergate Capital Corporation between November 9, 2021 and January 5, 2023, both dates inclusive. If one wish to serve as lead plaintiff, one must move the Court no later than February 6, 2023. If one purchased Silvergate securities during the Class Period may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. According to the lawsuit, throughout the Class Period, defendants 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, defendants failed to disclose to investors that: (1) the Company’s platform lacked sufficient controls and procedures to detect instances of money laundering; (2) Silvergate’s customers had engaged in money laundering in amounts exceeding $425 million; (3) as a result of the foregoing, the Company was reasonably likely to receive regulatory scrutiny and face damages, including penalties and reputational harm; and (4) as a result of the foregoing, defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Announcement • Jan 06
Silvergate Capital Corporation to Report Q4, 2022 Results on Jan 17, 2023 Silvergate Capital Corporation announced that they will report Q4, 2022 results Pre-Market on Jan 17, 2023 Announcement • Jan 05
Silvergate Capital Corporation to Report Q4, 2022 Results on Jan 05, 2023 Silvergate Capital Corporation announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Jan 05, 2023 Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 16% share price gain to €16.93, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €21.96, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 62% over the past three years. Announcement • Dec 08
Glancy Prongay & Murray LLP Files Securities Lawsuit Against Silvergate Capital Corporation Glancy Prongay & Murray LLP announced that it has filed a class action lawsuit in the United States District Court for the Southern District of California, captioned Rosa v. Silvergate Capital Corporation, et al., on behalf of persons and entities that purchased or otherwise acquired Silvergate Capital Corporation securities between November 9, 2021 and November 17, 2022, inclusive. Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”). Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €23.50, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 77% over the past three years. Announcement • Nov 08
Silvergate Capital Corporation and Silvergate Bank Announce Executive Appointments Silvergate Capital Corporation 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. Mr. Reynolds began his career at KPMG and HSBC, where he spent a decade in roles of increasing responsibility in audit, risk management, analytics, operations and product functions. Prior to joining Silvergate, he was an entrepreneur for eight years and built successful companies in both retail and technology industries from inception to exit. Mr. Reynolds joined Silvergate in 2016 to lead the growth of its digital asset initiative. He has held various executive roles at the Company, including business development, operations, product and strategy functions. Ms. Fraher is an accomplished executive with over twenty years of banking experience in roles with increasing responsibility. Her achievements include designing and implementing scalable compliance and risk management programs for commercial and consumer banks. Ms. Fraher joined Silvergate in 2006 and has held several executive roles at the Company, including operations, BSA, compliance and risk management functions. Reported Earnings • Oct 20
Third quarter 2022 earnings released: EPS: US$1.28 (vs US$0.89 in 3Q 2021) Third quarter 2022 results: EPS: US$1.28 (up from US$0.89 in 3Q 2021). Revenue: US$89.9m (up 74% from 3Q 2021). Net income: US$40.6m (up 73% from 3Q 2021). Profit margin: 45% (in line with 3Q 2021). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Banks industry in Europe. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €67.66, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 50% over the past year. Announcement • Oct 05
Silvergate Capital Corporation to Report Q3, 2022 Results on Oct 18, 2022 Silvergate Capital Corporation announced that they will report Q3, 2022 results Pre-Market on Oct 18, 2022 Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment deteriorated over the past week After last week's 21% share price decline to €74.00, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 14% over the past year. Announcement • Sep 20
Silvergate Capital Corporation and Silvergate Bank Appoint Mary-Margaret Henke to Their Board of Directors Silvergate Capital Corporation announced the appointment of Mary-Margaret Henke to the board of directors of both the Company and its subsidiary bank, Silvergate Bank. Ms. Henke began her career at PwC where she spent nearly a decade in the Advisory practice counseling financial services, construction, and energy clients. Most recently, she spent over 12 years at Western Union in a wide variety of finance and technology roles with increasing responsibility including Chief Audit Executive and as Head of Information Technology/Corporate Systems. Also during her career, she was Chief Audit Executive at Janus Capital Group where she established the firm’s internal audit and risk functions and she was Assistant Controller of CoBank, the largest bank in the Farm Credit System. With extensive knowledge and nearly 30 years of experience in the financial services industry, Ms. Henke has guided public and private companies through audit and regulatory matters. Ms. Henke holds a Bachelor’s degree in Accounting from the University of Denver and has an active CPA license. Announcement • Jul 27
Silvergate Capital Corporation Announces Addition of Alaric Eby as Chief Product Development Officer Silvergate Capital Corporation announced that Alaric Eby has joined its team as Chief Product Development Officer. In this role, Alaric will be a key driver in executing Silvergate’s growth strategy by leading the Company’s product function and expanding solutions to support the digital asset industry. Before joining Silvergate, Alaric was Vice President of New Product Development at American Express for Amex Digital Labs, where he identified business opportunities and launched new products across several industries. He also served as the blockchain and crypto specialist and co-authored patents related to blockchain, security and payments. Prior to his role in new product development at American Express, Alaric launched Amex Express Checkout, leading the creation, development and delivery of the new payments system. Alaric also led product launches at TravelClick Inc., which was acquired by Amadeus Hospitality, and at Citigroup. Reported Earnings • Jul 20
Second quarter 2022 earnings released: EPS: US$1.14 (vs US$0.81 in 2Q 2021) Second quarter 2022 results: EPS: US$1.14 (up from US$0.81 in 2Q 2021). Revenue: US$79.8m (up 88% from 2Q 2021). Net income: US$35.9m (up 72% from 2Q 2021). Profit margin: 45% (down from 49% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 79%, compared to a 14% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 24% share price gain to €64.96, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 25% over the past year. Announcement • Jul 06
Silvergate Capital Corporation to Report Q2, 2022 Results on Jul 19, 2022 Silvergate Capital Corporation announced that they will report Q2, 2022 results Pre-Market on Jul 19, 2022 Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €65.61, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 9x in the Banks industry in Europe. Total loss to shareholders of 26% over the past year. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorated over the past week After last week's 20% share price decline to €69.89, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 9x in the Banks industry in Europe. Total loss to shareholders of 13% over the past year. Reported Earnings • May 11
First quarter 2022 earnings released: EPS: US$0.79 (vs US$0.56 in 1Q 2021) First quarter 2022 results: EPS: US$0.79 (up from US$0.56 in 1Q 2021). Revenue: US$62.4m (up 101% from 1Q 2021). Net income: US$24.7m (up 94% from 1Q 2021). Profit margin: 40% (down from 41% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 83%, compared to a 15% growth forecast for the industry in Germany. Recent Insider Transactions • Apr 27
Executive VP & COO recently sold €185k worth of stock On the 22nd of April, Kathleen Fraher sold around 2k shares on-market at roughly €123 per share. In the last 3 months, there was an even bigger sale from another insider worth €300k. Kathleen has been a seller over the last 12 months, reducing personal holdings by €941k. Recent Insider Transactions • Apr 23
Executive VP & COO recently sold €185k worth of stock On the 22nd of April, Kathleen Fraher sold around 2k shares on-market at roughly €123 per share. In the last 3 months, there was an even bigger sale from another insider worth €300k. Kathleen has been a seller over the last 12 months, reducing personal holdings by €941k. Reported Earnings • Apr 20
First quarter 2022 earnings released: EPS: US$0.79 (vs US$0.56 in 1Q 2021) First quarter 2022 results: EPS: US$0.79 (up from US$0.56 in 1Q 2021). Revenue: US$62.4m (up 101% from 1Q 2021). Net income: US$24.7m (up 94% from 1Q 2021). Profit margin: 40% (down from 41% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 85%, compared to a 8.3% growth forecast for the industry in Germany. Announcement • Apr 15
Silvergate Capital Corporation, Annual General Meeting, Jun 10, 2022 Silvergate Capital Corporation, Annual General Meeting, Jun 10, 2022, at 08:00 Pacific Standard Time. Agenda: To approve an amendment to the Company's Articles of Incorporation, as amended ( Articles"), to declassify the Company's Board of Directors and provide for the annual election of directors; to approve an amendment to the Company's Articles to cancel the Company's Class B non-voting common stock and re-allocate such shares to the Company's Class A common stock; to approve an amendment to the Company's Articles to allow for the removal of directors with or without cause by a majority vote of the stockholders; to approve an amendment to the Company's Articles to authorize amendments to eliminate certain supermajority stockholder voting requirements to amend certain provisions of the Company's Articles and Amended and Restated Bylaws ( Bylaws"); and to consider any other matters of the business. Announcement • Apr 06
Silvergate Capital Corporation to Report Q1, 2022 Results on Apr 19, 2022 Silvergate Capital Corporation announced that they will report Q1, 2022 results Pre-Market on Apr 19, 2022 Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 23% share price gain to €127, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 10x in the Banks industry in Europe. Negligible returns to shareholders over past year. Simply Wall St's valuation model estimates the intrinsic value at €135 per share. Buying Opportunity • Mar 15
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be US$135, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% per annum over the last 3 years. Earnings per share has grown by 25% per annum over the last 3 years. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$2.95 (up from US$1.39 in FY 2020). Revenue: US$174.5m (up 94% from FY 2020). Net income: US$75.5m (up 190% from FY 2020). Profit margin: 43% (up from 29% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 1.20% (down from 3.00% in FY 2020). Cost-to-income ratio: 51.1% (down from 65.1% in FY 2020). Non-performing loans: 0.45% (down from 0.66% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 59%, compared to a 9.5% growth forecast for the banks industry in Germany. Buying Opportunity • Feb 25
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 49%. The fair value is estimated to be US$117, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% per annum over the last 3 years. Earnings per share has grown by 25% per annum over the last 3 years. Recent Insider Transactions • Feb 24
Independent Director recently sold €300k worth of stock On the 22nd of February, Karen Brassfield sold around 3k shares on-market at roughly €99.94 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €41m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €90.50, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 10x in the Banks industry in Europe. Total loss to shareholders of 23% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €124 per share. Buying Opportunity • Feb 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 51%. The fair value is estimated to be US$114, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% per annum over the last 3 years. Earnings per share has grown by 25% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 27% share price gain to €103, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 11x in the Banks industry in Europe. Total returns to shareholders of 5.1% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €137 per share. Announcement • Feb 02
Silvergate Capital Corporation (NYSE:SI) acquired Blockchain-Based Payment Network Assets from Diem Association for approximately $170 million. Silvergate Capital Corporation (NYSE:SI) acquired Blockchain-Based Payment Network Assets from Diem Association for approximately $170 million on January 31, 2021. Under the terms of the asset purchase agreement, Silvergate has issued 1,221,217 shares of class A common stock to Diem and paid $50 million in cash. Based on the closing price of SI on January 31, 2022, the aggregate value of the consideration was $182 million. As part of integrating the acquired assets into Silvergate’s existing technology, Silvergate expects to incur approximately $30 million of additional costs in 2022. The assets acquired by Silvergate include development, deployment and operations infrastructure and tools for running a blockchain-based payment network designed to facilitate payments for commerce and cross-border remittances. Silvergate Bank, a subsidiary of Silvergate, is a California chartered and Federal Reserve member bank, its real-time payments platform, the Silvergate Exchange Network (“SEN”), when integrated with the assets acquired, Silvergate is one step closer to launching a next-generation global payment system that is faster, easier to use and more cost-effective than existing solutions. Goldman Sachs Group acted as financial advisor to Silvergate Capital Corporation. Holland & Knight LLP acted as legal advisor to Silvergate Capital Corporation. Eric Zabinski, Eric Geffner, David Johnson and Sarah Levesque at O’Melveny & Myers LLP, Stuart Levi at Skadden, Arps, Slate, Meagher & Flom LLP, and Mark Jansen at Fenwick & West LLP served as Diem’s legal advisors. Eric Risley and Peter Stoneberg at Architect Partners LLC served as financial advisors to Diem.
Silvergate Capital Corporation (NYSE:SI) completed the acquisition of Blockchain-Based Payment Network Assets from Diem Association on January 31, 2021. Announcement • Feb 01
Silvergate Capital Corporation (NYSE:SI) acquired assets related to the running of the Diem Payment Network from Diem Association. Silvergate Capital Corporation (NYSE:SI) acquired assets related to the running of the Diem Payment Network from Diem Association on January 31, 2022. Eric Zabinski, Eric Geffner, Ashleigh Stanley, David Johnson, and Sarah Levesque at O'Melveny & Myers LLP, Stuart Levi and Mana Ghaemmaghami at Skadden, Arps, Slate, Meagher & Flom LLP, and Mark Jansen and Meghan Kloeber at Fenwick & West LLP served as Diem's legal advisors. Eric Risley and Peter Stoneberg at Architect Partners LLC served as financial advisors to Diem. Goldman Sachs & Co. LLC served as financial advisor to Silvergate and Holland & Knight served as Silvergate's legal advisor.
Silvergate Capital Corporation (NYSE:SI) completed the acquisition of assets related to the running of the Diem Payment Network from Diem Association on January 31, 2022. Reported Earnings • Jan 20
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$2.95 (up from US$1.39 in FY 2020). Revenue: US$174.5m (up 94% from FY 2020). Net income: US$75.5m (up 190% from FY 2020). Profit margin: 43% (up from 29% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 52%, compared to a 11% growth forecast for the banks industry in Germany. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €103, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 11x in the Banks industry in Europe. Total returns to shareholders of 97% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €146 per share. Buying Opportunity • Jan 19
Now 30% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be US$146, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% per annum over the last 3 years. Earnings per share has grown by 19% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 19% share price gain to €145, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 10x in the Banks industry in Europe. Total returns to shareholders of 171% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €121 per share. Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €148, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 10x in the Banks industry in Europe. Total returns to shareholders of 402% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €115 per share. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improved over the past week After last week's 17% share price gain to €152, the stock trades at a forward P/E ratio of 55x. Average forward P/E is 11x in the Banks industry in Europe. Total returns to shareholders of 699% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €101 per share. Recent Insider Transactions • Oct 23
Independent Director recently sold €3.2m worth of stock On the 21st of October, Thomas Dircks sold around 25k shares on-market at roughly €129 per share. In the last 3 months, there was an even bigger sale from another insider worth €4.0m. Insiders have been net sellers, collectively disposing of €27m more than they bought in the last 12 months. Reported Earnings • Oct 20
Third quarter 2021 earnings released: EPS US$0.89 (vs US$0.38 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$51.7m (up 126% from 3Q 2020). Net income: US$23.5m (up 233% from 3Q 2020). Profit margin: 45% (up from 31% in 3Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improved over the past week After last week's 15% share price gain to €101, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 11x in the Banks industry in Europe. Total returns to shareholders of 724% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €101 per share. Recent Insider Transactions • Sep 11
Insider recently sold €935k worth of stock On the 9th of September, Dennis Frank sold around 10k shares on-market at roughly €97.65 per share. In the last 3 months, they made an even bigger sale worth €4.0m. Insiders have been net sellers, collectively disposing of €20m more than they bought in the last 12 months. Recent Insider Transactions • Aug 31
Executive VP & COO recently sold €214k worth of stock On the 27th of August, Kathleen Fraher sold around 2k shares on-market at roughly €97.20 per share. In the last 3 months, there was an even bigger sale from another insider worth €4.0m. Kathleen has been a seller over the last 12 months, reducing personal holdings by €773k. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improved over the past week After last week's 22% share price gain to US$101, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 11x in the Banks industry in Europe. Total returns to shareholders of 745% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €107 per share. Recent Insider Transactions • Aug 05
Insider recently sold €4.0m worth of stock On the 2nd of August, Dennis Frank sold around 46k shares on-market at roughly €87.53 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €14m more than they bought in the last 12 months. Reported Earnings • Jul 22
Second quarter 2021 earnings released: EPS US$0.81 (vs US$0.29 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$42.5m (up 100% from 2Q 2020). Net income: US$20.9m (up 283% from 2Q 2020). Profit margin: 49% (up from 26% in 2Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$72.70, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 11x in the Banks industry in Europe. Total returns to shareholders of 506% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €87.52 per share. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improved over the past week After last week's 16% share price gain to US$95.00, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 11x in the Banks industry in Europe. Total returns to shareholders of 698% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €84.57 per share. Recent Insider Transactions • Jun 12
President recently sold €937k worth of stock On the 10th of June, Alan Lane sold around 11k shares on-market at roughly €83.27 per share. In the last 3 months, there was an even bigger sale from another insider worth €947k. This was Alan's only on-market trade for the last 12 months. Recent Insider Transactions • May 31
Independent Director recently sold €947k worth of stock On the 27th of May, Scott Reed sold around 10k shares on-market at roughly €94.69 per share. In the last 3 months, there was an even bigger sale from another insider worth €2.9m. Insiders have been net sellers, collectively disposing of €8.3m more than they bought in the last 12 months. Recent Insider Transactions • May 20
Independent Director recently sold €729k worth of stock On the 17th of May, Karen Brassfield sold around 10k shares on-market at roughly €72.86 per share. In the last 3 months, there was an even bigger sale from another insider worth €2.9m. Insiders have been net sellers, collectively disposing of €7.4m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 16% share price gain to US$80.00, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 11x in the Banks industry in Europe. Total returns to shareholders of 511% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €89.82 per share. Announcement • May 19
Silvergate Capital Corporation has completed a Follow-on Equity Offering in the amount of $300 million. Silvergate Capital Corporation has completed a Follow-on Equity Offering in the amount of $300 million.
Security Name: Class A Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • May 12
First quarter 2021 earnings released: EPS US$0.56 (vs US$0.23 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$31.1m (up 63% from 1Q 2020). Net income: US$12.7m (up 189% from 1Q 2020). Profit margin: 41% (up from 23% in 1Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$83.70, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 11x in the Banks industry in Europe. Total returns to shareholders of 549% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €84.53 per share. Reported Earnings • Apr 23
First quarter 2021 earnings released: EPS US$0.68 (vs US$0.23 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$31.1m (up 63% from 1Q 2020). Net income: US$12.7m (up 189% from 1Q 2020). Profit margin: 41% (up from 23% in 1Q 2020). The increase in margin was driven by higher revenue. Recent Insider Transactions • Mar 17
Chairman of the Board recently sold €2.9m worth of stock On the 12th of March, Dennis Frank sold around 25k shares on-market at roughly €117 per share. This was the largest sale by an insider in the last 3 months. Dennis has been a seller over the last 12 months, reducing personal holdings by €5.6m. Reported Earnings • Mar 10
Full year 2020 earnings released: EPS US$1.39 (vs US$1.38 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: US$89.9m (up 3.1% from FY 2019). Net income: US$26.0m (up 4.8% from FY 2019). Profit margin: 29% (in line with FY 2019). Net interest margin (NIM): 3.00% (down from 3.47% in FY 2019). Cost-to-income ratio: 65.1% (up from 64.6% in FY 2019). Non-performing loans: 0.66% (down from 0.88% in FY 2019). Analyst Estimate Surprise Post Earnings • Mar 10
Revenue beats expectations Revenue exceeded analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 42%, compared to a 29% growth forecast for the Banks industry in Germany. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 23% share price decline to US$89.50, the stock is trading at a trailing P/E ratio of 76.6x, down from the previous P/E ratio of 99.2x. This compares to an average P/E of 13x in the Banks industry in Europe. Total returns to shareholders over the past year are 610%. Recent Insider Transactions • Feb 24
Independent Director recently sold €596k worth of stock On the 22nd of February, Karen Brassfield sold around 5k shares on-market at roughly €132 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €4.0m more than they bought in the last 12 months. Is New 90 Day High Low • Feb 03
New 90-day high: €82.00 The company is up 321% from its price of €19.50 on 04 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €54.98 per share. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improved over the past week After last week's 17% share price gain to US$62.00, the stock is trading at a trailing P/E ratio of 58.3x, up from the previous P/E ratio of 49.9x. This compares to an average P/E of 11x in the Banks industry in Europe. Total returns to shareholders over the past year are 366%. Analyst Estimate Surprise Post Earnings • Jan 22
Revenue beats expectations Revenue exceeded analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 18%, compared to a 23% growth forecast for the Banks industry in Germany. Announcement • Jan 22
Silvergate Capital Corporation has completed a Follow-on Equity Offering in the amount of $250.000065 million. Silvergate Capital Corporation has completed a Follow-on Equity Offering in the amount of $250.000065 million.
Security Name: Class A Common Stock
Security Type: Common Stock
Securities Offered: 3,968,255
Price\Range: $63 Analyst Estimate Surprise Post Earnings • Jan 21
Revenue beats expectations Revenue exceeded analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 11%, compared to a 23% growth forecast for the Banks industry in Germany. Reported Earnings • Jan 21
Full year 2020 earnings released: EPS US$1.39 The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: US$89.9m (up 3.1% from FY 2019). Net income: US$26.0m (up 4.8% from FY 2019). Profit margin: 29% (in line with FY 2019). Announcement • Jan 13
Silvergate Capital Corporation to Report Q4, 2020 Results on Jan 25, 2021 Silvergate Capital Corporation announced that they will report Q4, 2020 results After-Market on Jan 25, 2021 Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment deteriorated over the past week After last week's 21% share price decline to US$55.00, the stock is trading at a trailing P/E ratio of 59.8x, down from the previous P/E ratio of 76.2x. This compares to an average P/E of 12x in the Banks industry in Europe. Total returns to shareholders over the past year are 304%. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 31% share price gain to US$70.00, the stock is trading at a trailing P/E ratio of 60.7x, up from the previous P/E ratio of 46.4x. This compares to an average P/E of 11x in the Banks industry in Europe. Total returns to shareholders over the past year are 400%. Is New 90 Day High Low • Jan 05
New 90-day high: €70.00 The company is up 456% from its price of €12.60 on 07 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €52.36 per share. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improved over the past week After last week's 17% share price gain to US$35.20, the stock is trading at a trailing P/E ratio of 41.2x, up from the previous P/E ratio of 35.1x. This compares to an average P/E of 11x in the Banks industry in Europe. Total returns to shareholders over the past year are 145%. Is New 90 Day High Low • Dec 12
New 90-day high: €32.00 The company is up 164% from its price of €12.10 on 11 September 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €21.91 per share. Recent Insider Transactions • Dec 03
Independent Director recently sold €75k worth of stock On the 1st of December, Karen Brassfield sold around 3k shares on-market at roughly €29.87 per share. In the last 3 months, there was an even bigger sale from another insider worth €253k. Insiders have been net sellers, collectively disposing of €2.9m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Dec 01
Market bids up stock over the past week After last week's 22% share price gain to US$30.80, the stock is trading at a trailing P/E ratio of 32.2x, up from the previous P/E ratio of 26.4x. This compares to an average P/E of 11x in the Banks industry in Europe. Total returns to shareholders over the past year are 117%. Recent Insider Transactions • Nov 21
Independent Director recently sold €253k worth of stock On the 18th of November, Paul Colucci sold around 10k shares on-market at roughly €25.34 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.8m more than they bought in the last 12 months. Analyst Estimate Surprise Post Earnings • Nov 12
Revenue beats expectations Revenue exceeded analyst estimates by 24%. Over the next year, revenue is expected to shrink by 4.7% compared to a 20% growth forecast for the Banks industry in Germany. Reported Earnings • Nov 12
Third quarter 2020 earnings released: EPS US$0.38 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: US$22.9m (up 4.5% from 3Q 2019). Net income: US$7.06m (up 6.1% from 3Q 2019). Profit margin: 31% (in line with 3Q 2019).