Signature Bank (SBNY) Upgraded to Outperform by BMO Capital Markets
SBNY has been the topic of a number of other reports. Jefferies Group LLC reiterated a buy rating and set a $169.00 price objective on shares of Signature Bank in a research note on Wednesday, June 28th. Keefe, Bruyette & Woods reiterated a buy rating and set a $158.00 price objective on shares of Signature Bank in a research note on Friday, July 14th. Piper Jaffray Companies reiterated a neutral rating and set a $140.00 price objective on shares of Signature Bank in a research note on Friday, October 13th. FIG Partners reiterated an outperform rating and set a $150.00 price objective on shares of Signature Bank in a research note on Monday, October 2nd. Finally, Wedbush downgraded shares of Signature Bank from an outperform rating to a neutral rating and dropped their price objective for the company from $157.00 to $126.00 in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $154.13.
Shares of Signature Bank (NASDAQ SBNY) traded up 6.35% during mid-day trading on Friday, hitting $134.13. The stock had a trading volume of 1,208,207 shares. The stock has a market cap of $7.26 billion, a P/E ratio of 21.49 and a beta of 0.96. The company’s 50 day moving average is $124.72 and its 200-day moving average is $135.35. Signature Bank has a 52-week low of $115.95 and a 52-week high of $164.23.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.10. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. The firm had revenue of $316.94 million for the quarter, compared to the consensus estimate of $322.22 million. During the same period last year, the firm earned $2.11 earnings per share. On average, equities research analysts anticipate that Signature Bank will post $7.15 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Pacad Investment Ltd. acquired a new stake in Signature Bank in the second quarter valued at approximately $100,000. YorkBridge Wealth Partners LLC raised its holdings in shares of Signature Bank by 6.3% in the second quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after buying an additional 41 shares during the last quarter. Commonwealth Bank of Australia raised its holdings in shares of Signature Bank by 5.1% in the second quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock worth $176,000 after buying an additional 60 shares during the last quarter. Rockefeller Financial Services Inc. purchased a new position in shares of Signature Bank in the third quarter worth $192,000. Finally, Bronfman E.L. Rothschild L.P. raised its holdings in shares of Signature Bank by 1.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock worth $202,000 after buying an additional 21 shares during the last quarter. Institutional investors own 95.77% of the company’s stock.
About Signature Bank
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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