Signature Bank (SBNY) Given “Hold” Rating at Piper Jaffray Companies
Several other analysts also recently weighed in on the company. Morgan Stanley lowered their target price on Signature Bank from $164.00 to $150.00 and set an overweight rating for the company in a research note on Friday, September 15th. Hovde Group upgraded Signature Bank from an underperform rating to a market perform rating and set a $132.00 target price for the company in a research note on Monday, September 11th. Keefe, Bruyette & Woods restated a buy rating and set a $142.00 target price on shares of Signature Bank in a research note on Tuesday, October 3rd. Bank of America restated a buy rating and set a $165.00 target price (down from $175.00) on shares of Signature Bank in a research note on Wednesday, September 20th. Finally, Barclays set a $140.00 target price on Signature Bank and gave the company a buy rating in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $155.19.
Shares of Signature Bank (NASDAQ SBNY) opened at $148.03 on Tuesday. Signature Bank has a twelve month low of $116.68 and a twelve month high of $164.23. The stock has a market capitalization of $7,919.32, a price-to-earnings ratio of 16.84, a P/E/G ratio of 1.33 and a beta of 1.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.91.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.10. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. The firm had revenue of $316.94 million during the quarter, compared to the consensus estimate of $322.22 million. During the same period in the prior year, the firm earned $2.11 EPS. equities analysts anticipate that Signature Bank will post 7.25 earnings per share for the current year.
Several hedge funds have recently modified their holdings of SBNY. Schwab Charles Investment Management Inc. lifted its position in shares of Signature Bank by 6.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 176,965 shares of the bank’s stock worth $25,400,000 after purchasing an additional 10,693 shares during the last quarter. Commerce Bank bought a new position in shares of Signature Bank during the second quarter worth about $219,000. Pacad Investment Ltd. bought a new position in shares of Signature Bank during the second quarter worth about $100,000. Commonwealth Bank of Australia lifted its position in shares of Signature Bank by 5.1% during the second quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock worth $176,000 after purchasing an additional 60 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Signature Bank by 17.2% during the second quarter. Wells Fargo & Company MN now owns 167,124 shares of the bank’s stock worth $23,987,000 after purchasing an additional 24,489 shares during the last quarter. 96.30% of the stock is currently owned by institutional investors and hedge funds.
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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