Signature Bank (NASDAQ:SBNY) was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday. They presently have a $126.00 price objective on the bank’s stock, down from their prior price objective of $157.00. Wedbush’s price target indicates a potential upside of 4.81% from the company’s current price. Wedbush also issued estimates for Signature Bank’s Q3 2017 earnings at $2.20 EPS, Q4 2017 earnings at $2.20 EPS, FY2017 earnings at $7.13 EPS, Q1 2018 earnings at $2.22 EPS, Q2 2018 earnings at $2.25 EPS, Q3 2018 earnings at $2.28 EPS, Q4 2018 earnings at $2.25 EPS and FY2018 earnings at $9.00 EPS.

Several other research firms have also commented on SBNY. BidaskClub upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. ValuEngine lowered shares of Signature Bank from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Morgan Stanley boosted their price objective on shares of Signature Bank from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Keefe, Bruyette & Woods set a $164.00 price objective on shares of Signature Bank and gave the stock a “buy” rating in a research report on Monday, June 5th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $165.00 price objective on shares of Signature Bank in a research report on Friday, May 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $158.93.

Signature Bank (SBNY) traded down 0.29% during trading on Wednesday, reaching $121.53. 136,806 shares of the company’s stock traded hands. Signature Bank has a one year low of $113.53 and a one year high of $164.23. The stock has a market cap of $6.57 billion, a P/E ratio of 19.47 and a beta of 0.97. The firm’s 50 day moving average price is $128.78 and its 200-day moving average price is $139.56.

Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.01). Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. The company had revenue of $316.79 million for the quarter, compared to analyst estimates of $324.44 million. During the same period last year, the company earned $1.90 earnings per share. On average, equities analysts anticipate that Signature Bank will post $7.21 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL increased its stake in shares of Signature Bank by 0.6% during the 1st quarter. Tudor Investment Corp ET AL now owns 2,418 shares of the bank’s stock valued at $359,000 after acquiring an additional 14 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of Signature Bank by 1.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock valued at $202,000 after acquiring an additional 21 shares during the last quarter. Cadence Capital Management LLC increased its stake in shares of Signature Bank by 1.1% during the 2nd quarter. Cadence Capital Management LLC now owns 2,118 shares of the bank’s stock valued at $304,000 after acquiring an additional 23 shares during the last quarter. Boston Private Wealth LLC increased its stake in shares of Signature Bank by 0.3% during the 2nd quarter. Boston Private Wealth LLC now owns 7,568 shares of the bank’s stock valued at $1,086,000 after acquiring an additional 25 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Signature Bank by 0.7% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 6,120 shares of the bank’s stock valued at $909,000 after acquiring an additional 40 shares during the last quarter. 95.78% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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