Signature Bank (SBNY) Receives Outperform Rating from Wells Fargo & Co

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.

The Fly

Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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