Signature Bank (NASDAQ:SBNY)‘s stock had its “hold” rating reiterated by stock analysts at Piper Jaffray Companies in a research note issued on Tuesday. They currently have a $149.00 target price on the bank’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 3.03% from the company’s current price.
Other research analysts have also issued reports about the stock. Hovde Group upgraded shares of Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 price objective on the stock in a research note on Monday, September 11th. Barclays lifted their price objective on shares of Signature Bank from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. FIG Partners restated an “outperform” rating and issued a $150.00 price objective on shares of Signature Bank in a research note on Monday, October 2nd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $142.00 price objective on shares of Signature Bank in a research note on Tuesday, October 3rd. Finally, Bank of America restated a “buy” rating and issued a $165.00 price objective (down from $175.00) on shares of Signature Bank in a research note on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. Signature Bank presently has a consensus rating of “Buy” and a consensus target price of $155.19.
Signature Bank (NASDAQ SBNY) traded up $2.61 during midday trading on Tuesday, reaching $144.62. 488,700 shares of the company’s stock were exchanged, compared to its average volume of 348,086. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $7,980.00, a price-to-earnings ratio of 20.28, a PEG ratio of 1.36 and a beta of 1.02. Signature Bank has a one year low of $116.68 and a one year high of $164.23.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.10. The company had revenue of $316.94 million for the quarter, compared to analyst estimates of $322.22 million. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. During the same period in the previous year, the business posted $2.11 earnings per share. research analysts anticipate that Signature Bank will post 7.26 EPS for the current year.
Institutional investors have recently modified their holdings of the company. Pacad Investment Ltd. acquired a new position in shares of Signature Bank during the second quarter worth about $100,000. YorkBridge Wealth Partners LLC boosted its holdings in Signature Bank by 6.3% during the second quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after buying an additional 41 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Signature Bank during the third quarter worth about $115,000. Zions Bancorporation purchased a new stake in Signature Bank during the third quarter worth about $152,000. Finally, Commonwealth Bank of Australia boosted its holdings in Signature Bank by 5.1% during the second quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock worth $176,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 96.30% of the company’s stock.
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Signature Bank Company Profile
Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.
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