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Silvergate (SI) to Report Q1 Earnings: What's in the Cards?
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Silvergate Capital Corporation is scheduled to report first-quarter 2021 results on Apr 20, before market open. The company’s earnings and revenues are anticipated to have witnessed an improvement in the quarter on a year-over-year basis.
In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate. Results reflected a year-over-year increase in revenues.
Notably, the Zacks Consensus Estimate for the company’s first-quarter earnings is pegged at 48 cents per share, which indicates substantial growth from the prior-year quarter’s reported number. Estimates have been unchanged over the past seven days.
The Zacks Consensus Estimate for sales is pegged at $32 million, which suggests a rise of 56.8% from the year-ago quarter’s reported figure.
Silvergate Capital Corporation Price and EPS Surprise
Now, let’s have a look at the key factors that are likely to have impacted Silvergate’s first-quarter performance.
Higher Net Interest Income (NII): Though the commercial and industrial lending scenario was muted during the to-be-reported quarter, growth in mortgage warehouse portfolio might have been witnessed on the back of low rates. This, along with steepening of yield curve, is likely to have supported Silvergate’s NII.
Also, interest expenses might have declined due to redemption of all outstanding brokered CDs at the end of second-quarter 2020 in the January-March period as well.
Noninterest Income Growth: Rising awareness and demand for digital currencies is expected to have supported digital currency fee income in the first quarter as well. Also, deposits balances are likely to have remained elevated on account of higher client activities in Silvergate Exchange Network (SEN). Thus, overall deposit related fees might have jumped.
Expenses: Silvergate’s costs are expected to have increased during the first quarter due to investments in bolstering products and services to be offered through SEN. Also, federal deposit insurance expense might have jumped due to increased deposits balance.
Earnings Whispers
Our quantitative model does not conclusively predict an earnings beat for Silvergate this time around. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESP and Zacks Rank #3 (Hold) or better, which is required for an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Silvergate has an Earnings ESP of 0.00%.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some finance stocks that you may want to consider as these have the right combination of elements to post an earnings beat in their upcoming releases, per our model.
The Earnings ESP for Invesco (IVZ - Free Report) is +1.13% and it carries a Zacks Rank #2 (Buy) at present. The company is slated to report quarterly numbers on Apr 27.
Capital One Financial Corporation (COF - Free Report) is slated to report quarterly results on Apr 27. The company currently has an Earnings ESP of +1.47% and a Zacks Rank of 3.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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Silvergate (SI) to Report Q1 Earnings: What's in the Cards?
Silvergate Capital Corporation is scheduled to report first-quarter 2021 results on Apr 20, before market open. The company’s earnings and revenues are anticipated to have witnessed an improvement in the quarter on a year-over-year basis.
In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate. Results reflected a year-over-year increase in revenues.
Notably, the Zacks Consensus Estimate for the company’s first-quarter earnings is pegged at 48 cents per share, which indicates substantial growth from the prior-year quarter’s reported number. Estimates have been unchanged over the past seven days.
The Zacks Consensus Estimate for sales is pegged at $32 million, which suggests a rise of 56.8% from the year-ago quarter’s reported figure.
Silvergate Capital Corporation Price and EPS Surprise
Silvergate Capital Corporation price-eps-surprise | Silvergate Capital Corporation Quote
Now, let’s have a look at the key factors that are likely to have impacted Silvergate’s first-quarter performance.
Higher Net Interest Income (NII): Though the commercial and industrial lending scenario was muted during the to-be-reported quarter, growth in mortgage warehouse portfolio might have been witnessed on the back of low rates. This, along with steepening of yield curve, is likely to have supported Silvergate’s NII.
Also, interest expenses might have declined due to redemption of all outstanding brokered CDs at the end of second-quarter 2020 in the January-March period as well.
Noninterest Income Growth: Rising awareness and demand for digital currencies is expected to have supported digital currency fee income in the first quarter as well. Also, deposits balances are likely to have remained elevated on account of higher client activities in Silvergate Exchange Network (SEN). Thus, overall deposit related fees might have jumped.
Expenses: Silvergate’s costs are expected to have increased during the first quarter due to investments in bolstering products and services to be offered through SEN. Also, federal deposit insurance expense might have jumped due to increased deposits balance.
Earnings Whispers
Our quantitative model does not conclusively predict an earnings beat for Silvergate this time around. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESP and Zacks Rank #3 (Hold) or better, which is required for an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Silvergate has an Earnings ESP of 0.00%.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some finance stocks that you may want to consider as these have the right combination of elements to post an earnings beat in their upcoming releases, per our model.
BankUnited (BKU - Free Report) is scheduled to release earnings on Apr 22. The company, which carries a Zacks Rank #3 at present, has an Earnings ESP of +0.64%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Earnings ESP for Invesco (IVZ - Free Report) is +1.13% and it carries a Zacks Rank #2 (Buy) at present. The company is slated to report quarterly numbers on Apr 27.
Capital One Financial Corporation (COF - Free Report) is slated to report quarterly results on Apr 27. The company currently has an Earnings ESP of +1.47% and a Zacks Rank of 3.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
AccessZacks Top 10 Stocks for 2021 today >>