Signature Bank (NASDAQ:SBNY) had its price target reduced by Wedbush from $144.00 to $131.00 in a research report released on Friday. They currently have a neutral rating on the bank’s stock. Wedbush also issued estimates for Signature Bank’s Q3 2018 earnings at $2.84 EPS, Q4 2018 earnings at $2.82 EPS, Q1 2019 earnings at $2.69 EPS, Q2 2019 earnings at $2.76 EPS, Q3 2019 earnings at $2.84 EPS, Q4 2019 earnings at $2.86 EPS and FY2019 earnings at $11.15 EPS.

A number of other analysts have also issued reports on SBNY. BidaskClub lowered shares of Signature Bank from a hold rating to a sell rating in a research note on Saturday, April 7th. Wells Fargo & Co raised shares of Signature Bank from a market perform rating to an outperform rating in a research note on Friday, April 20th. Jefferies Financial Group reissued a buy rating and set a $161.00 target price on shares of Signature Bank in a research note on Friday, April 20th. BMO Capital Markets lowered their target price on shares of Signature Bank from $192.00 to $171.00 and set an outperform rating for the company in a research note on Friday, April 20th. Finally, TheStreet lowered shares of Signature Bank from a b rating to a c+ rating in a research note on Friday, April 20th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $153.67.

NASDAQ SBNY traded up $1.16 on Friday, hitting $119.87. 1,786,617 shares of the stock were exchanged, compared to its average volume of 512,028. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.98 and a beta of 1.16. Signature Bank has a 52-week low of $115.00 and a 52-week high of $161.92.

Signature Bank (NASDAQ:SBNY) last issued its earnings results on Thursday, July 19th. The bank reported $2.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.80 by $0.03. The firm had revenue of $326.63 million during the quarter, compared to analyst estimates of $334.00 million. Signature Bank had a net margin of 26.76% and a return on equity of 13.84%. During the same period in the previous year, the firm earned $2.21 earnings per share. equities research analysts anticipate that Signature Bank will post 11.31 EPS for the current year.

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, August 15th. Investors of record on Wednesday, August 1st will be paid a $0.56 dividend. This represents a yield of 0.47%. The ex-dividend date is Tuesday, July 31st.

A number of large investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. lifted its stake in Signature Bank by 72.0% in the second quarter. Whittier Trust Co. now owns 14,351 shares of the bank’s stock worth $1,811,000 after acquiring an additional 6,005 shares during the period. Fred Alger Management Inc. lifted its stake in Signature Bank by 20.2% in the second quarter. Fred Alger Management Inc. now owns 214,194 shares of the bank’s stock worth $27,391,000 after acquiring an additional 36,041 shares during the period. Amalgamated Bank lifted its stake in Signature Bank by 6.2% in the second quarter. Amalgamated Bank now owns 12,301 shares of the bank’s stock worth $1,573,000 after acquiring an additional 720 shares during the period. Louisiana State Employees Retirement System lifted its stake in Signature Bank by 2.8% in the second quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the bank’s stock worth $1,854,000 after acquiring an additional 400 shares during the period. Finally, Oakbrook Investments LLC lifted its stake in Signature Bank by 54.1% in the second quarter. Oakbrook Investments LLC now owns 5,425 shares of the bank’s stock worth $694,000 after acquiring an additional 1,905 shares during the period. 95.75% of the stock is owned by institutional investors.

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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