Shares of Signature Bank (NASDAQ:SBNY) have been assigned a consensus rating of “Buy” from the nineteen ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $152.57.

SBNY has been the subject of a number of research reports. BMO Capital Markets lowered shares of Signature Bank from an “outperform” rating to a “market perform” rating and set a $171.00 target price for the company. in a research report on Friday, July 20th. BidaskClub lowered shares of Signature Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, July 27th. ValuEngine lowered shares of Signature Bank from a “sell” rating to a “strong sell” rating in a research report on Monday, June 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $150.00 target price on shares of Signature Bank in a research report on Friday, July 20th. Finally, Wedbush cut their target price on shares of Signature Bank from $144.00 to $131.00 and set a “neutral” rating for the company in a research report on Friday, July 20th.

Several hedge funds have recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Signature Bank by 7.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,700 shares of the bank’s stock valued at $809,000 after acquiring an additional 400 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Signature Bank by 2.8% in the second quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the bank’s stock valued at $1,854,000 after acquiring an additional 400 shares during the period. Amalgamated Bank boosted its position in shares of Signature Bank by 3.6% in the first quarter. Amalgamated Bank now owns 11,581 shares of the bank’s stock valued at $1,644,000 after acquiring an additional 406 shares during the period. Brinker Capital Inc. boosted its position in shares of Signature Bank by 5.3% in the first quarter. Brinker Capital Inc. now owns 9,339 shares of the bank’s stock valued at $1,326,000 after acquiring an additional 472 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Signature Bank by 4.2% in the first quarter. Thrivent Financial for Lutherans now owns 12,160 shares of the bank’s stock valued at $1,726,000 after acquiring an additional 485 shares during the period. Institutional investors own 95.71% of the company’s stock.

SBNY traded up $1.87 during trading on Friday, hitting $119.66. 730,922 shares of the company traded hands, compared to its average volume of 364,202. The firm has a market cap of $6.44 billion, a P/E ratio of 13.43, a PEG ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 0.98. Signature Bank has a one year low of $108.89 and a one year high of $161.92.

Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Thursday, July 19th. The bank reported $2.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.80 by $0.03. The company had revenue of $326.63 million during the quarter, compared to analyst estimates of $334.00 million. Signature Bank had a net margin of 26.76% and a return on equity of 13.84%. During the same quarter in the prior year, the business earned $2.21 earnings per share. equities research analysts predict that Signature Bank will post 11.18 earnings per share for the current fiscal year.

About Signature Bank

Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.

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Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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