{"id":16968,"date":"2023-01-28T01:13:49","date_gmt":"2023-01-28T01:13:49","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/01\/28\/is-silvergate-stock-a-buy-after-it-suspended-preferred-stock-dividend\/"},"modified":"2023-01-28T01:13:49","modified_gmt":"2023-01-28T01:13:49","slug":"is-silvergate-stock-a-buy-after-it-suspended-preferred-stock-dividend","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/01\/28\/is-silvergate-stock-a-buy-after-it-suspended-preferred-stock-dividend\/","title":{"rendered":"Is Silvergate stock a buy after it suspended preferred stock dividend"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/01\/180944899_m-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/01\/180944899_m-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/01\/180944899_m-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/01\/180944899_m-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2023\/01\/180944899_m.jpg\" alt=\"sell silvergate stock suspends preferred stock dividend\" width=\"100%\" height=\"100%\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Silvergate Capital Corp suspends dividend on its preferred stock.<\/li>\n<li>Wedbush Securities analyst reiterates his impartial\u00a0score on \u201cSI\u201d.<\/li>\n<li>Silvergate stock is at present down over 85% since mid-August.<\/li>\n<\/ul>\n<p>Silvergate Capital Corp ended 5.0% down on Friday after the crypto financial institution suspended dividend on its preferred stock.<\/p>\n<h2>Silvergate is attempting to protect capital<\/h2>\n<p>The embattled digital foreign money companies firm is chopping again on the payout to protect capital. Its <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230126006026\/en\/Silvergate-Suspends-Series-A-Preferred-Stock-Dividend\" target=\"_blank\" rel=\"noopener\">press release<\/a> reads:<\/p>\n<blockquote>\n<p>This choice displays the Company\u2019s give attention to sustaining a extremely liquid stability sheet with a sturdy capital place. Company continues to take care of a money place in extra of its digital asset buyer associated deposits.<\/p>\n<\/blockquote>\n<p>The California-based firm additionally confirmed that its Board will re-evaluate the quarterly fee as soon as market circumstances enhance.<\/p>\n<p>Silvergate stock has misplaced over 85% since mid-August, associated partially to the FTX collapse. Consequently, billionaire investor <a href=\"https:\/\/finance.yahoo.com\/news\/ark-fund-unloads-silvergate-stake-131252888.html\" target=\"_blank\" rel=\"noopener\">Cathie Wood<\/a> virtually solely pulled out of it initially of the brand new yr.<\/p>\n<h2>Is Silvergate stock a buy?<\/h2>\n<p>According to a Wedbush Securities analyst, suspending Series A preferred stock dividend will make issues tougher for this monetary infrastructure options agency in the long term.<\/p>\n<p>Reiterating his \u201cneutral\u201d score on the Silvergate stock on Friday, David Chiaverini mentioned:<\/p>\n<blockquote>\n<p>We consider this transfer may elevate Silvergate\u2019s value of capital down the highway when Silvergate makes an attempt to faucet the capital markets for a future capital elevate. Any new fastened revenue or preferred issuance would require a increased coupon.<\/p>\n<\/blockquote>\n<p>His $13 worth goal on the stock suggests it lacks any upside in any way. Earlier in January, Silvergate Capital Corp mentioned common deposits from digital asset prospects tanked 39% to $7.3 billion in its fourth quarter as <a href=\"https:\/\/coinjournal.net\/news\/silvergate-plunges-after-crypto-meltdown-triggered-deposit-run\/\">Coin Journal reported here.<\/a><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this text<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/sell-silvergate-stock-suspends-preferred-stock-dividend\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Silvergate Capital Corp suspends dividend on its preferred stock. Wedbush Securities analyst reiterates his impartial\u00a0score on \u201cSI\u201d. Silvergate stock is at present down over 85% since mid-August. Silvergate Capital Corp ended 5.0% down on Friday after the crypto financial institution suspended dividend on its preferred stock. Silvergate is attempting to protect capital The embattled 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