Signature Bank (NASDAQ:SBNY) has been given an average rating of “Buy” by the twenty ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $155.00.

Several equities research analysts have recently issued reports on SBNY shares. Morgan Stanley lowered their price objective on Signature Bank from $164.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, September 15th. Jefferies Group reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Signature Bank in a research note on Tuesday, October 24th. Hovde Group raised Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 price objective for the company in a research note on Monday, September 11th. BMO Capital Markets raised Signature Bank from a “market perform” rating to an “outperform” rating in a research note on Friday, October 20th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $140.00 price objective on shares of Signature Bank in a research note on Friday, October 13th.

Several large investors have recently made changes to their positions in SBNY. Parnassus Investments CA purchased a new position in shares of Signature Bank in the 3rd quarter valued at $167,732,000. Harding Loevner LP increased its holdings in shares of Signature Bank by 138.0% in the 3rd quarter. Harding Loevner LP now owns 1,802,550 shares of the bank’s stock valued at $94,865,000 after acquiring an additional 1,045,206 shares during the period. Nordea Investment Management AB grew its stake in Signature Bank by 265.2% during the 2nd quarter. Nordea Investment Management AB now owns 982,154 shares of the bank’s stock worth $140,969,000 after buying an additional 713,190 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in Signature Bank by 204.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 791,794 shares of the bank’s stock worth $101,381,000 after buying an additional 531,709 shares during the last quarter. Finally, Koch Industries Inc. grew its stake in Signature Bank by 34,799.2% during the 2nd quarter. Koch Industries Inc. now owns 480,562 shares of the bank’s stock worth $477,000 after buying an additional 479,185 shares during the last quarter. Institutional investors and hedge funds own 96.33% of the company’s stock.

Signature Bank (NASDAQ SBNY) traded down $1.40 during midday trading on Friday, reaching $133.43. The company’s stock had a trading volume of 360,300 shares, compared to its average volume of 480,273. The stock has a market cap of $7,420.00, a PE ratio of 15.39, a PEG ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.91. Signature Bank has a fifty-two week low of $116.68 and a fifty-two week high of $164.23.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.10. The business had revenue of $316.94 million during the quarter, compared to analysts’ expectations of $322.22 million. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. During the same quarter last year, the business posted $2.11 EPS. equities analysts predict that Signature Bank will post 7.25 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This story was first reported by Daily Political and is the property of of Daily Political. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/12/15/signature-bank-sbny-given-consensus-rating-of-buy-by-brokerages.html.

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.

Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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.