Is This The Best Time to Harvest Silvergate Capital Corporation (SI)?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2000 Growth Index and returned 3.28% (net), and the index return was 0.24%. Strength in Industrials, Consumer Staples, Consumer Discretionary, and Information Technology sectors contributed to the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Silvergate Capital Corporation (NYSE:SI) in its Q3 2022 investor letter. Headquartered in La Jolla, California, Silvergate Capital Corporation (NYSE:SI) is a bank holding company. On December 19, 2022, Silvergate Capital Corporation (NYSE:SI) stock closed at $17.16 per share. One-month return of Silvergate Capital Corporation (NYSE:SI) was -32.04%, and its shares lost 88.09% of their value over the last 52 weeks. Silvergate Capital Corporation (NYSE:SI) has a market capitalization of $543.262 million.

TimesSquare Capital made the following comment about Silvergate Capital Corporation (NYSE:SI) in its Q3 2022 investor letter:

“Rotating back to positive were the shares of Silvergate Capital Corporation (NYSE:SI). Providing financial infrastructure solutions and services for the digital currency industry, Silvergate reported improvements in net interest income from deposit growth and lower expenses, that combined to produce better-than-expected earnings. After a difficult spring, Silvergate bounced back by 40% this quarter and we trimmed our holdings.”

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Silvergate Capital Corporation (NYSE:SI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Silvergate Capital Corporation (NYSE:SI) at the end of the third quarter, which was 23 in the previous quarter.

We discussed Silvergate Capital Corporation (NYSE:SI) in another article and shared small-cap stocks from Ray Dalio’s Q3 2022 portfolio. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.