Signature Bank (SBNY) Getting Somewhat Favorable Press Coverage, Study Shows
Headlines about Signature Bank (NASDAQ:SBNY) have been trending somewhat positive recently, Accern reports. Accern ranks the sentiment of media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Signature Bank earned a news sentiment score of 0.13 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 47.0943605935425 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the media stories that may have impacted Accern Sentiment’s rankings:
- Signature Bank (SBNY) Given Average Rating of “Buy” by Brokerages (americanbankingnews.com)
- FIG Partners Starts Signature Bank (SBNY) at Outperform – StreetInsider.com (streetinsider.com)
- Signature Bank (SBNY) Expected to Post Quarterly Sales of $325.34 Million (americanbankingnews.com)
- Signature Bank : Ranks Among Top Three in Multiple Categories of New York Law Journal’s Eighth Annual Reader Survey (4-traders.com)
- Brokerages Expect Signature Bank (SBNY) Will Announce Earnings of $2.21 Per Share (americanbankingnews.com)
Signature Bank (SBNY) opened at 128.04 on Monday. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 20.51 and a beta of 0.97. The firm has a 50-day moving average price of $128.78 and a 200 day moving average price of $139.56. Signature Bank has a 52 week low of $113.53 and a 52 week high of $164.23.
Signature Bank (NASDAQ:SBNY) last posted its earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.01). The firm had revenue of $316.79 million for the quarter, compared to analysts’ expectations 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 company posted $1.90 earnings per share. On average, equities research analysts forecast that Signature Bank will post $7.21 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on SBNY shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $169.00 price target on shares of Signature Bank in a research note on Wednesday, June 28th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $158.00 price objective on shares of Signature Bank in a research note on Friday, July 14th. Wedbush cut shares of Signature Bank from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $157.00 to $126.00 in a research note on Wednesday, September 20th. Morgan Stanley increased their price objective on Signature Bank from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, June 6th. Finally, ValuEngine downgraded Signature Bank from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $158.93.
Signature Bank Company Profile
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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