Signature Bank (SBNY) Receives Average Recommendation of “Buy” from Analysts
Shares of Signature Bank (NASDAQ:SBNY) have earned an average rating of “Buy” from the twenty research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $155.00.
A number of brokerages have recently commented on SBNY. JMP Securities began coverage on shares of Signature Bank in a research report on Monday, November 20th. They issued an “outperform” rating and a $160.00 price objective on the stock. Piper Jaffray Companies reissued a “neutral” rating and issued a $140.00 price objective on shares of Signature Bank in a research report on Friday, October 13th. Morgan Stanley lowered shares of Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 price objective on the stock. in a research report on Monday, November 6th. FIG Partners reissued an “outperform” rating and issued a $150.00 price objective on shares of Signature Bank in a research report on Monday, October 2nd. Finally, BMO Capital Markets raised shares of Signature Bank from a “market perform” rating to an “outperform” rating in a research report on Friday, October 20th.
Large investors have recently added to or reduced their stakes in the business. AXA increased its holdings in shares of Signature Bank by 15.1% in the second quarter. AXA now owns 58,429 shares of the bank’s stock valued at $8,386,000 after purchasing an additional 7,662 shares during the last quarter. Icon Advisers Inc. Co. increased its stake in shares of Signature Bank by 1.1% in the second quarter. Icon Advisers Inc. Co. now owns 114,820 shares of the bank’s stock valued at $16,480,000 after buying an additional 1,300 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Signature Bank by 41.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 359,859 shares of the bank’s stock valued at $51,650,000 after buying an additional 105,237 shares during the period. Tdam USA Inc. increased its stake in shares of Signature Bank by 200.7% in the third quarter. Tdam USA Inc. now owns 12,815 shares of the bank’s stock valued at $1,641,000 after buying an additional 8,553 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Signature Bank by 19.1% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 17,033 shares of the bank’s stock valued at $2,445,000 after buying an additional 2,730 shares during the period. Hedge funds and other institutional investors own 96.33% of the company’s stock.
Shares of Signature Bank (NASDAQ SBNY) traded down $1.40 on Friday, reaching $133.43. 360,300 shares of the company’s stock were exchanged, compared to its average volume of 480,273. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market capitalization of $7,420.00, a price-to-earnings ratio of 15.39, a P/E/G ratio of 1.73 and a beta of 1.02. Signature Bank has a 1 year low of $116.68 and a 1 year high of $164.23.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.10. The business had revenue of $316.94 million for the quarter, compared to analyst estimates of $322.22 million. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. During the same quarter in the previous year, the firm posted $2.11 earnings per share. research analysts forecast that Signature Bank will post 7.25 EPS for the current year.
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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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