Signature Bank (SBNY) Shares Down 2.3%
Signature Bank (NASDAQ:SBNY)’s share price dropped 2.3% during mid-day trading on Monday . The company traded as low as $121.32 and last traded at $121.32, with a volume of 335,711 shares trading hands. The stock had previously closed at $124.13.
SBNY has been the subject of a number of research analyst reports. Vetr raised Signature Bank from a “buy” rating to a “strong-buy” rating and set a $163.00 price target for the company in a report on Wednesday, April 20th. Jefferies Group reaffirmed a “buy” rating and issued a $155.00 price target on shares of Signature Bank in a report on Thursday, July 7th. Zacks Investment Research downgraded Signature Bank from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Morgan Stanley reaffirmed an “overweight” rating on shares of Signature Bank in a report on Wednesday, June 29th. Finally, Raymond James Financial Inc. raised Signature Bank from an “outperform” rating to a “strong-buy” rating and set a $162.00 price objective for the company in a report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $158.89.
The firm has a market capitalization of $6.47 billion and a PE ratio of 15.60. The stock has a 50-day moving average of $124.08 and a 200-day moving average of $132.48.
Signature Bank (NASDAQ:SBNY) last issued its earnings results on Wednesday, July 20th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.97 by $0.07. During the same period in the prior year, the business posted $1.77 earnings per share. On average, equities analysts expect that Signature Bank will post $8.00 EPS for the current fiscal year.
Several hedge funds and institutional investors have recently modified their holdings of the company. KBC Group NV raised its position in shares of Signature Bank by 65.3% in the fourth quarter. KBC Group NV now owns 7,973 shares of the company’s stock valued at $1,223,000 after buying an additional 3,151 shares during the last quarter. Andra AP fonden purchased a new position in shares of Signature Bank during the fourth quarter valued at approximately $2,132,000. Gulf International Bank UK Ltd purchased a new position in shares of Signature Bank during the fourth quarter valued at approximately $2,357,000. US Bancorp DE raised its position in shares of Signature Bank by 3.7% in the fourth quarter. US Bancorp DE now owns 26,099 shares of the company’s stock valued at $4,004,000 after buying an additional 930 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Signature Bank by 52.2% in the fourth quarter. Advisors Asset Management Inc. now owns 29,164 shares of the company’s stock valued at $4,473,000 after buying an additional 10,002 shares during 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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