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Analyst Downgrades Rating on Silvergate Capital

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It is reported that one of the few analysts who are bullish on the shares of Silvergate Capital (SI) downgraded its rating from stronger than the market to equ…

Analyst Downgrades Rating on Silvergate Capital

It is reported that one of the few analysts who are bullish on the shares of Silvergate Capital (SI) downgraded its rating from stronger than the market to equal to the market performance because of the limited visibility of the future of the encryption bank. Michael Perito, an analyst at Keefe, Bruyette&Woods (KBW), an investment bank, also lowered its target price from $25 to $16 in a research report sent to customers.

KBW analysts downgrade Silvergate Capital’s stock rating

Analysis based on this information:


A recent report has revealed that Keefe, Bruyette & Woods (KBW) analyst, Michael Perito, has downgraded his rating on the shares of Silvergate Capital due to the bank’s limited visibility of the future of the encryption bank. According to the report, Mr. Perito has lowered the bank’s target price from $25 to $16 in his research report sent to customers.

The downgrade comes as a surprise to the market, as Silvergate has been one of the few cryptocurrency-focused banks that have been able to consistently increase its revenues and customer base. The bank has faced significant challenges in recent months, with the ongoing pandemic and uncertainty over the regulatory environment for cryptocurrencies. However, the bank has been able to weather the storm and has reported impressive financial results in the past year.

Despite this, Mr. Perito’s downgrade indicates that there are concerns about the bank’s ability to maintain its growth trajectory in the future. The limited visibility of the future of the encryption bank is a significant concern for investors, as the bank’s business model relies heavily on the adoption and success of cryptocurrencies.

Investors will be closely monitoring the bank’s future performance to see if it can continue to grow and maintain its position in the market. Analysts will be looking closely at the factors that could impact the bank’s future performance, such as regulatory changes, the adoption of cryptocurrencies, and competition from other banks.

Overall, the downgrade of Silvergate Capital’s rating by KBW analyst Michael Perito highlights the potential risks and uncertainties facing the encryption bank. It also serves as a reminder of the importance of staying informed about the latest developments in the cryptocurrency market and of engaging in careful analysis before making investment decisions.

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