Form 4 Silvergate Capital Corp For: Feb 26 Filed by: Martino Antonio
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JPMorgan Downgrades Silvergate Capital Corp. (SI) to Underweight, 'Further Downside Risk with the Ability to Continue as a Going Concern Now Cited'
March 2, 2023 5:00 AM ESTJPMorgan analyst Steven Alexopoulos downgraded Silvergate Capital Corp. (NYSE: SI) from Neutral to Underweight.
The analyst comments "We are downgrading shares of SI from Neutral to Underweight after Silvergate reported a delay in its 10-K filing as well as the company citing that it is evaluating the impact that subsequent events since December 31, 2022, including the sale of investment securities beyond what was previously anticipated and disclosed, have on its ability to continue as a going concern. Specifically, it was disclosed that the company had to sell additional securities beyond what was... More
