Silvergate shares jump in pre-market trading despite loss as bank well-capitalized

  • 📰 TheBlock__
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

Silvergate shares popped following its full earnings report which contained few surprises following preliminary figures, analysts noted.

Silvergate shares jumped 6.8% in the early session as the bank delivered its full earnings report.

The crypto-friendly bank posted a net loss of $1.05 billion for the fourth quarter compared with an $18.4 million profit a year earlier. Silvergate Capital shares rallied despite the firm's $1 billion fourth-quarter loss as business is intact, KBW analysts said. Share's in the La Jolla-based bank were trading at $14.10 by 9 a.m. EST, up 6.8% from the previous close, according to Nasdaq data.full earnings release relative to information disclosed then, KBW analysts wrote in a note following the release. exception being TBV/TCE, which were higher than most expected based onhistoric shock to its system, with still plenty of capital and liquidity at hand," KBW analysts wrote.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Someone ping sissyfus. Book value of $13… the RFV tradoooooooooor

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 464. in BUSİNESS

Business Business Latest News, Business Business Headlines