Signature Bank (SBNY) Upgraded at TheStreet
SBNY has been the topic of a number of other research reports. Jefferies Group reiterated a buy rating and set a $145.00 target price (down previously from $169.00) on shares of Signature Bank in a research report on Thursday, September 7th. Barclays set a $145.00 target price on Signature Bank and gave the stock a buy rating in a research report on Wednesday, October 11th. BMO Capital Markets upgraded Signature Bank from a market perform rating to an outperform rating in a research report on Friday, October 20th. Morgan Stanley cut their target price on Signature Bank from $164.00 to $150.00 and set an overweight rating on the stock in a research report on Friday, September 15th. Finally, ValuEngine cut Signature Bank from a buy rating to a hold rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Signature Bank currently has a consensus rating of Buy and a consensus target price of $155.13.
Shares of Signature Bank (SBNY) opened at $136.24 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71. Signature Bank has a 52-week low of $116.68 and a 52-week high of $164.23. The company has a market capitalization of $7,369.60, a PE ratio of 15.67, a PEG ratio of 1.77 and a beta of 1.02.
Signature Bank (NASDAQ:SBNY) last posted its earnings results on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.10. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. The business had revenue of $316.94 million for the quarter, compared to analysts’ expectations of $322.22 million. During the same quarter in the previous year, the firm earned $2.11 earnings per share. research analysts forecast that Signature Bank will post 7.23 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. increased its position in Signature Bank by 1.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock worth $202,000 after purchasing an additional 21 shares during the period. Cadence Capital Management LLC increased its position in Signature Bank by 1.1% during the 2nd quarter. Cadence Capital Management LLC now owns 2,118 shares of the bank’s stock worth $304,000 after purchasing an additional 23 shares during the period. Boston Private Wealth LLC increased its position in Signature Bank by 0.3% during the 2nd quarter. Boston Private Wealth LLC now owns 7,568 shares of the bank’s stock worth $1,086,000 after purchasing an additional 25 shares during the period. YorkBridge Wealth Partners LLC increased its position in Signature Bank by 6.3% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after purchasing an additional 41 shares during the period. Finally, IFP Advisors Inc increased its position in Signature Bank by 1.5% during the 2nd quarter. IFP Advisors Inc now owns 3,128 shares of the bank’s stock worth $449,000 after purchasing an additional 45 shares during the period. Institutional investors own 98.29% of the company’s stock.
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.
Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.