Signature Bank (SBNY) Given a $135.00 Price Target at Raymond James
Signature Bank (NASDAQ:SBNY) has been given a $135.00 price objective by investment analysts at Raymond James in a research report issued on Friday. The firm presently has a “buy” rating on the bank’s stock. Raymond James’ target price would suggest a potential upside of 8.52% from the company’s current price.
Several other brokerages have also commented on SBNY. Deutsche Bank raised their price target on shares of Signature Bank to $137.00 and gave the company a “buy” rating in a research note on Friday. BidaskClub upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. ValuEngine upgraded shares of Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 18th. Wedbush upgraded shares of Signature Bank from a “neutral” rating to an “outperform” rating and set a $102.56 price target on the stock in a research note on Friday, December 21st. Finally, Wells Fargo & Co dropped their price target on shares of Signature Bank from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $139.90.
SBNY traded up $3.08 on Friday, hitting $124.40. 909,078 shares of the company’s stock were exchanged, compared to its average volume of 555,836. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. Signature Bank has a twelve month low of $98.54 and a twelve month high of $161.92. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 1.19.
Several hedge funds and other institutional investors have recently bought and sold shares of SBNY. Paradigm Asset Management Co. LLC bought a new stake in Signature Bank during the third quarter worth approximately $115,000. Cerebellum GP LLC boosted its holdings in Signature Bank by 1,408.6% during the third quarter. Cerebellum GP LLC now owns 1,584 shares of the bank’s stock worth $182,000 after buying an additional 1,479 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC bought a new stake in Signature Bank during the fourth quarter worth approximately $201,000. MML Investors Services LLC bought a new stake in Signature Bank during the third quarter worth approximately $203,000. Finally, IFM Investors Pty Ltd acquired a new position in Signature Bank in the 3rd quarter worth approximately $256,000. Institutional investors and hedge funds own 94.42% 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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