Silvergate Capital (SI) March weekly option implied volatility at 157, March at 177

Go back to Silvergate Capital (SI) March weekly option implied volatility at 157, March at 177

Silvergate (SI) downgraded at KBW as share volatility continues

March 1, 2023 1:26 PM EST

Keefe, Bruyette & Woods (KBW) downgraded Silvergate Capital Corporation (NYSE: SI) to a Market Perform rating (From Outperform) and cut the price target on the stock to $16.00 (From $25.00) as the companys shares continue to be volatile in the wake of the deleveraging of the crypto industry and FTX bankruptcy fall-out.

Analyst Michael Perito wrote in a note, As SI's shares have fallen, we have defended the bank's management, operating platform, role within FTX's platform, and strength of their... More