Signature Bank (NASDAQ:SBNY) Given Average Rating of “Buy” by Brokerages

Shares of Signature Bank (NASDAQ:SBNY) have been given a consensus recommendation of “Buy” by the thirteen analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $138.89.

A number of research analysts have commented on SBNY shares. Morgan Stanley raised their price target on shares of Signature Bank from $143.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. ValuEngine upgraded shares of Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Monday, November 25th. Stephens lifted their target price on shares of Signature Bank from $140.00 to $144.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Wells Fargo & Co cut their target price on shares of Signature Bank from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Finally, Hovde Group upgraded shares of Signature Bank from a “market perform” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Wednesday, November 20th.

Shares of NASDAQ:SBNY traded up $1.59 on Friday, reaching $137.59. 138,141 shares of the company traded hands, compared to its average volume of 312,855. Signature Bank has a fifty-two week low of $107.94 and a fifty-two week high of $137.93. The company’s 50 day moving average is $131.10 and its 200-day moving average is $123.49. The stock has a market capitalization of $7.38 billion, a PE ratio of 12.20, a P/E/G ratio of 1.11 and a beta of 1.38. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.98 and a quick ratio of 0.98.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.05. The company had revenue of $334.00 million during the quarter, compared to the consensus estimate of $339.14 million. Signature Bank had a return on equity of 13.09% and a net margin of 31.37%. During the same quarter in the prior year, the firm earned $2.84 EPS. As a group, analysts expect that Signature Bank will post 10.82 EPS for the current year.

Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Signature Bank by 0.4% during the second quarter. BlackRock Inc. now owns 5,312,628 shares of the bank’s stock worth $641,980,000 after purchasing an additional 20,404 shares in the last quarter. Vanguard Group Inc. boosted its stake in Signature Bank by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,871,753 shares of the bank’s stock valued at $588,702,000 after purchasing an additional 100,830 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Signature Bank by 1.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 735,323 shares of the bank’s stock valued at $87,665,000 after purchasing an additional 13,758 shares in the last quarter. Invesco Ltd. boosted its stake in Signature Bank by 17.4% during the 2nd quarter. Invesco Ltd. now owns 516,338 shares of the bank’s stock valued at $62,393,000 after purchasing an additional 76,350 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Signature Bank by 7.5% during the 2nd quarter. Mackenzie Financial Corp now owns 502,749 shares of the bank’s stock valued at $60,752,000 after purchasing an additional 35,073 shares in the last quarter. Institutional investors own 90.91% of the company’s stock.

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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