Signature Bank (NASDAQ:SBNY) shares gapped up before the market opened on Thursday . The stock had previously closed at $128.20, but opened at $128.45. Signature Bank shares last traded at $130.74, with a volume of 167,968 shares traded.

Several analysts have recently weighed in on SBNY shares. Barclays PLC lifted their target price on shares of Signature Bank from $154.00 to $158.00 in a research report on Friday, April 1st. Deutsche Bank AG reiterated a “buy” rating and set a $170.00 target price on shares of Signature Bank in a research report on Thursday, April 21st. Jefferies Group lifted their target price on shares of Signature Bank from $118.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, March 28th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Signature Bank in a research report on Saturday, July 9th. Finally, Sandler O’Neill lifted their target price on shares of Signature Bank to $136.00 and gave the company a “hold” rating in a research report on Monday, March 28th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $160.37.

The firm has a market capitalization of $7.00 billion and a price-to-earnings ratio of 17.16. The firm has a 50 day moving average price of $128.10 and a 200-day moving average price of $134.69.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Wednesday, April 20th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. During the same quarter in the prior year, the business earned $1.64 EPS. On average, analysts predict that Signature Bank will post $8.19 EPS for the current year.

A number of institutional investors have added to or reduced their stakes in SBNY. Montag & Caldwell LLC raised its position in Signature Bank by 21.9% in the fourth quarter. Montag & Caldwell LLC now owns 6,573 shares of the company’s stock worth $1,008,000 after buying an additional 1,182 shares in the last quarter. Chesley Taft & Associates LLC IL purchased a new position in Signature Bank during the fourth quarter valued at approximately $1,062,000. Penserra Capital Management LLC purchased a new position in Signature Bank during the fourth quarter valued at approximately $1,245,000. Sawtooth Asset Management Inc. raised its position in Signature Bank by 449.5% in the fourth quarter. Sawtooth Asset Management Inc. now owns 9,688 shares of the company’s stock valued at $1,486,000 after buying an additional 7,925 shares in the last quarter. Finally, Strategic Global Advisors LLC raised its position in Signature Bank by 4.3% in the fourth quarter. Strategic Global Advisors LLC now owns 12,800 shares of the company’s stock valued at $1,963,000 after buying an additional 529 shares in the last quarter.

Signature Bank (the Bank) is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area, including those in Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island and Connecticut. The Bank offers a range of business and personal banking products and services.

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