Signature Bank (NASDAQ:SBNY) had its target price raised by BMO Capital Markets to $192.00 in a report released on Friday morning. They currently have an outperform rating on the bank’s stock.
Several other brokerages have also issued reports on SBNY. Stephens reiterated a buy rating on shares of Signature Bank in a research note on Friday. Maxim Group lifted their price target on Signature Bank from $175.00 to $200.00 and gave the company a buy rating in a research note on Friday. Wells Fargo & Co reiterated an outperform rating and issued a $150.00 price target (up previously from $137.00) on shares of Signature Bank in a research note on Tuesday, January 9th. Piper Jaffray Companies reiterated a hold rating and issued a $149.00 price target on shares of Signature Bank in a research note on Tuesday, January 9th. Finally, TheStreet upgraded Signature Bank from a c+ rating to a b rating in a research note on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $158.56.
Shares of Signature Bank (SBNY) traded up $6.39 during midday trading on Friday, reaching $159.83. The company’s stock had a trading volume of 695,038 shares, compared to its average volume of 307,984. Signature Bank has a 52-week low of $116.68 and a 52-week high of $164.23. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.91. The firm has a market cap of $8,237.12, a PE ratio of 22.39, a PEG ratio of 1.38 and a beta of 1.02.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.20. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. The company had revenue of $328.27 million for the quarter, compared to analyst estimates of $321.86 million. During the same quarter last year, the company posted $2.11 EPS. equities research analysts expect that Signature Bank will post 10.35 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new stake in shares of Signature Bank in the 4th quarter valued at about $493,000. Fox Run Management L.L.C. bought a new stake in shares of Signature Bank in the 4th quarter valued at about $223,000. Schwab Charles Investment Management Inc. grew its position 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 buying an additional 13,468 shares during the last quarter. Gateway Investment Advisers LLC grew its position 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 buying an additional 2,773 shares during the last quarter. Finally, CrestPoint Capital Management LLC grew its position 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 buying an additional 3,300 shares during 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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