Wells Fargo & Co reissued their outperform rating on shares of Signature Bank (NASDAQ:SBNY) in a research report sent to investors on Tuesday, January 9th, The Fly reports. They currently have a $150.00 price target on the bank’s stock, up from their previous price target of $137.00.
SBNY has been the subject of a number of other research reports. JMP Securities started coverage on Signature Bank in a research note on Monday, November 20th. They issued an outperform rating and a $160.00 target price for the company. Piper Jaffray Companies reaffirmed a neutral rating and set a $140.00 price target on shares of Signature Bank in a research report on Friday, October 13th. Morgan Stanley lowered Signature Bank from an overweight rating to an equal weight rating and set a $150.00 price target for the company. in a research report on Monday, November 6th. FIG Partners reaffirmed an outperform rating and set a $150.00 price target on shares of Signature Bank in a research report on Monday, October 2nd. Finally, BMO Capital Markets raised Signature Bank from a market perform rating to an outperform rating in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $158.56.
Signature Bank (SBNY) traded up $0.68 during midday trading on Tuesday, hitting $157.79. The stock had a trading volume of 517,493 shares, compared to its average volume of 380,456. Signature Bank has a 12 month low of $116.68 and a 12 month high of $163.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.95 and a current ratio of 0.97. The company has a market cap of $8,680.00, a price-to-earnings ratio of 22.10, a PEG ratio of 1.32 and a beta of 1.10.
Signature Bank (NASDAQ:SBNY) last released its earnings results on Thursday, January 18th. The bank reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $321.86 million. During the same quarter in the previous year, the company posted $2.11 EPS. sell-side analysts anticipate that Signature Bank will post 11.13 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. Tdam USA Inc. grew its holdings in shares of Signature Bank by 200.7% during the 3rd quarter. Tdam USA Inc. now owns 12,815 shares of the bank’s stock worth $1,641,000 after acquiring an additional 8,553 shares during the period. Jacobs Asset Management LLC grew its stake in shares of Signature Bank by 64.0% in the 3rd quarter. Jacobs Asset Management LLC now owns 49,200 shares of the bank’s stock worth $6,300,000 after buying an additional 19,200 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Signature Bank by 11.3% in the 3rd quarter. Wells Fargo & Company MN now owns 186,078 shares of the bank’s stock worth $23,824,000 after buying an additional 18,954 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Signature Bank by 66.1% in the 3rd quarter. Victory Capital Management Inc. now owns 13,317 shares of the bank’s stock worth $1,705,000 after buying an additional 5,300 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Signature Bank by 3.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 373,751 shares of the bank’s stock worth $47,855,000 after buying an additional 13,892 shares during the last quarter. Hedge funds and other institutional investors own 96.40% of the company’s stock.
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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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