Signature Bank (NASDAQ:SBNY) Lowered to “Strong Sell” at BidaskClub
BidaskClub cut shares of Signature Bank (NASDAQ:SBNY) from a sell rating to a strong sell rating in a research report report published on Thursday.
Other analysts have also issued research reports about the stock. Jefferies Group LLC reiterated a buy rating and set a $175.00 price target on shares of Signature Bank in a research report on Tuesday, April 11th. Keefe, Bruyette & Woods set a $164.00 target price on shares of Signature Bank and gave the company a buy rating in a research report on Monday, April 3rd. Bank of America Corporation restated a buy rating and issued a $175.00 target price on shares of Signature Bank in a research report on Thursday, May 25th. ValuEngine upgraded shares of Signature Bank from a hold rating to a buy rating in a research report on Thursday, May 11th. Finally, Maxim Group restated a buy rating and issued a $175.00 target price on shares of Signature Bank in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $167.85.
Signature Bank (SBNY) traded up 0.50% on Thursday, hitting $137.21. 121,298 shares of the stock were exchanged. The company has a 50-day moving average price of $140.90 and a 200 day moving average price of $146.90. Signature Bank has a 1-year low of $113.53 and a 1-year high of $164.23. The company has a market capitalization of $7.42 billion, a PE ratio of 21.98 and a beta of 0.96.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.22 by $0.01. The firm had revenue of $316.79 million for the quarter, compared to analyst estimates of $324.44 million. Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. During the same quarter in the prior year, the business posted $1.90 EPS. Analysts anticipate that Signature Bank will post $7.23 EPS for the current fiscal year.
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A number of large investors have recently bought and sold shares of SBNY. Quantbot Technologies LP bought a new stake in Signature Bank during the first quarter valued at $127,000. Israel Discount Bank of New York acquired a new position in shares of Signature Bank during the first quarter worth about $148,000. Koch Industries Inc. acquired a new position in shares of Signature Bank during the first quarter worth about $204,000. Mn Services Vermogensbeheer B.V. boosted its position in shares of Signature Bank by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,440 shares of the bank’s stock worth $200,000 after buying an additional 65 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Signature Bank during the first quarter worth about $219,000. 96.96% of the stock is owned by hedge funds and other institutional investors.
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.
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