Wells Fargo & Co restated their outperform rating on shares of Signature Bank (NASDAQ:SBNY) in a report issued on Tuesday, The Fly reports. They currently have a $150.00 target price on the bank’s stock, up from their previous target price of $137.00.
Other research analysts have also issued research 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 target on the stock in a research report on Monday, September 11th. Barclays lifted their price target on shares of Signature Bank from $140.00 to $151.00 and gave the stock an overweight rating in a research report on Tuesday, January 2nd. FIG Partners restated an outperform rating and issued a $150.00 price target on shares of Signature Bank in a research report on Monday, October 2nd. JMP Securities began coverage on shares of Signature Bank in a research report on Monday, November 20th. They issued an outperform rating and a $160.00 price target on the stock. Finally, Bank of America restated a buy rating and issued a $165.00 price target (down previously from $175.00) on shares of Signature Bank in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $155.19.
Signature Bank (SBNY) opened at $148.03 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a market cap of $7,919.32, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02. Signature Bank has a 12-month low of $116.68 and a 12-month high of $164.23.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.10. The firm 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 quarter in the previous year, the business posted $2.11 earnings per share. equities analysts forecast that Signature Bank will post 7.25 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC boosted its stake in Signature Bank by 6.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after purchasing an additional 41 shares during the period. Raymond James Trust N.A. boosted its stake in Signature Bank by 2.6% in the 2nd quarter. Raymond James Trust N.A. now owns 2,189 shares of the bank’s stock worth $314,000 after purchasing an additional 55 shares during the period. Commonwealth Bank of Australia boosted its stake in Signature Bank by 5.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock worth $176,000 after purchasing an additional 60 shares during the period. People s United Financial Inc. boosted its stake in Signature Bank by 2.2% in the 2nd quarter. People s United Financial Inc. now owns 7,544 shares of the bank’s stock worth $1,083,000 after purchasing an additional 166 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in Signature Bank by 0.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,819 shares of the bank’s stock worth $8,427,000 after purchasing an additional 478 shares during the period. 96.30% of the stock is owned by hedge funds and other institutional investors.
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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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