Signature Bank Receives Consensus Rating of “Buy” from Analysts (NASDAQ:SBNY)
Signature Bank (NASDAQ:SBNY) has been given an average rating of “Buy” by the sixteen analysts that are presently covering the company, AnalystRatings.Net reports. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $107.36.
Shares of Signature Bank (NASDAQ:SBNY) traded up 0.91% during mid-day trading on Thursday, hitting $122.91. The stock had a trading volume of 128,491 shares. Signature Bank has a 52 week low of $70.58 and a 52 week high of $129.83. The stock’s 50-day moving average is $117.5 and its 200-day moving average is $102.4. The company has a market cap of $5.813 billion and a price-to-earnings ratio of 25.59. Signature Bank also was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,669,887 shares, a drop of 26.4% from the January 15th total of 2,268,661 shares. Based on an average trading volume of 500,939 shares, the short-interest ratio is currently 3.3 days. Currently, 3.7% of the shares of the company are sold short.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Tuesday, January 21st. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.08. During the same quarter in the previous year, the company posted $1.05 earnings per share. On average, analysts predict that Signature Bank will post $5.80 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on SBNY shares. Analysts at Zacks upgraded shares of Signature Bank from a “neutral” rating to an “outperform” rating in a research note on Monday, January 27th. They now have a $129.70 price target on the stock. Separately, analysts at Maxim Group raised their price target on shares of Signature Bank from $125.00 to $140.00 in a research note on Wednesday, January 22nd. They now have a “buy” rating on the stock. Finally, analysts at Guggenheim upgraded shares of Signature Bank from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st.
Signature Bank (NASDAQ:SBNY) is a full-service commercial bank with 25 private client offices located in the New York metropolitan area serving the needs of privately owned business clients and their owners and senior managers.
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