BidaskClub upgraded shares of Signature Bank (NASDAQ:SBNY) from a sell rating to a hold rating in a report issued on Saturday, BidAskClub reports.

A number of other brokerages have also commented on SBNY. ValuEngine upgraded shares of Signature Bank from a strong sell rating to a sell rating in a research note on Friday, August 16th. BMO Capital Markets decreased their target price on shares of Signature Bank from $132.00 to $128.00 and set a market perform rating on the stock in a research report on Thursday, May 30th. Raymond James upgraded shares of Signature Bank from an outperform rating to a strong-buy rating and increased their target price for the stock from $142.00 to $143.00 in a research report on Monday, July 8th. Morgan Stanley decreased their target price on shares of Signature Bank from $146.00 to $145.00 and set an overweight rating on the stock in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. set a $138.00 target price on shares of Signature Bank and gave the stock a buy rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Signature Bank has an average rating of Buy and an average target price of $144.33.

Shares of SBNY opened at $120.48 on Friday. Signature Bank has a 52 week low of $98.54 and a 52 week high of $137.93. The firm has a market cap of $6.65 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.04 and a beta of 1.37. The firm’s 50-day simple moving average is $119.10 and its 200 day simple moving average is $123.96. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.99 and a current ratio of 1.00.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $2.72 EPS for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.01. Signature Bank had a net margin of 32.59% and a return on equity of 13.61%. The business had revenue of $334.88 million for the quarter, compared to analyst estimates of $333.25 million. During the same quarter in the prior year, the business earned $2.83 EPS. As a group, equities analysts forecast that Signature Bank will post 10.88 earnings per share for the current year.

Several large investors have recently made changes to their positions in SBNY. Machina Capital S.A.S. grew its position in shares of Signature Bank by 362.6% during the 2nd quarter. Machina Capital S.A.S. now owns 458 shares of the bank’s stock worth $55,000 after purchasing an additional 359 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Signature Bank during the 2nd quarter worth approximately $57,000. FTB Advisors Inc. grew its position in shares of Signature Bank by 242.4% during the 2nd quarter. FTB Advisors Inc. now owns 493 shares of the bank’s stock worth $59,000 after purchasing an additional 349 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in shares of Signature Bank during the 2nd quarter worth approximately $73,000. Finally, Commonwealth Bank of Australia lifted its holdings in shares of Signature Bank by 21.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 728 shares of the bank’s stock worth $87,000 after acquiring an additional 131 shares during the period. Hedge funds and other institutional investors own 92.71% 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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