Stephens restated their buy rating on shares of Signature Bank (NASDAQ:SBNY) in a report published on Friday.
Other equities research analysts also recently issued research reports about the stock. TheStreet raised shares of Signature Bank from a c+ rating to a b rating in a research note on Wednesday, November 29th. BMO Capital Markets reissued a buy rating and set a $163.00 price objective on shares of Signature Bank in a report on Wednesday, December 20th. Barclays set a $145.00 price objective on shares of Signature Bank and gave the stock a buy rating in a report on Wednesday, October 11th. Keefe, Bruyette & Woods reissued a buy rating and set a $142.00 price objective on shares of Signature Bank in a report on Tuesday, October 3rd. Finally, Jefferies Group reissued a buy rating and set a $155.00 price objective on shares of Signature Bank in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $158.56.
Signature Bank (NASDAQ:SBNY) traded up $6.39 during trading on Friday, reaching $159.83. 695,000 shares of the company traded hands, compared to its average volume of 456,046. Signature Bank has a 12-month low of $116.68 and a 12-month high of $164.23. The stock has a market cap of $8,580.15, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.02. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.95.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.20. Signature Bank had a net margin of 25.71% and a return on equity of 12.72%. The firm had revenue of $328.27 million for the quarter, compared to the consensus estimate of $321.86 million. During the same quarter in the previous year, the firm posted $2.11 EPS. sell-side analysts predict that Signature Bank will post 10.45 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC boosted its holdings in shares of Signature Bank by 6.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock valued at $100,000 after buying an additional 41 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Signature Bank in the 3rd quarter valued at about $115,000. Zions Bancorporation acquired a new position in shares of Signature Bank in the 3rd quarter valued at about $152,000. Rockefeller Financial Services Inc. acquired a new position in shares of Signature Bank in the 3rd quarter valued at about $192,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Signature Bank in the 3rd quarter valued at about $210,000. 96.43% of the stock is owned by institutional investors and hedge funds.
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About Signature Bank
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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