Signature Bank (SBNY) Price Target Raised to $200.00

Signature Bank (NASDAQ:SBNY) had its target price hoisted by investment analysts at Maxim Group from $175.00 to $200.00 in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the bank’s stock. Maxim Group’s price objective would suggest a potential upside of 30.34% from the company’s current price.

Several other research analysts also recently commented on the company. BMO Capital Markets restated a “buy” rating and issued a $163.00 target price on shares of Signature Bank in a research note on Wednesday, December 20th. TheStreet upgraded Signature Bank from a “c+” rating to a “b” rating in a research note on Wednesday, November 29th. Jefferies Group restated a “buy” rating and issued a $155.00 target price on shares of Signature Bank in a research note on Tuesday, October 24th. Barclays raised their target price on Signature Bank from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Morgan Stanley downgraded Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 target price for the company. in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $156.75.

Signature Bank (SBNY) opened at $153.44 on Friday. Signature Bank has a 12 month low of $116.68 and a 12 month high of $164.23. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $7,947.77, a PE ratio of 21.49, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02.

Signature Bank (NASDAQ:SBNY) last issued its earnings results on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, topping the consensus estimate of $2.23 by $0.20. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. During the same period in the prior year, the company posted $2.11 earnings per share. equities analysts expect that Signature Bank will post 7.25 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue purchased a new stake in shares of Signature Bank in the 4th quarter valued at about $493,000. Fox Run Management L.L.C. purchased a new stake in shares of Signature Bank in the 4th quarter valued at about $223,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Signature Bank by 7.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 205,404 shares of the bank’s stock valued at $28,194,000 after acquiring an additional 13,468 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Signature Bank by 3.5% in the 4th quarter. Gateway Investment Advisers LLC now owns 83,000 shares of the bank’s stock valued at $11,393,000 after acquiring an additional 2,773 shares in the last quarter. Finally, CrestPoint Capital Management LLC raised its holdings in shares of Signature Bank by 137.5% in the 4th quarter. CrestPoint Capital Management LLC now owns 5,700 shares of the bank’s stock valued at $782,000 after acquiring an additional 3,300 shares in the last quarter. 96.30% of the stock is currently 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.

Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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