Signature Bank Given Consensus Rating of “Buy” by Analysts (NASDAQ:SBNY)
Signature Bank (NASDAQ:SBNY) has earned an average rating of “Buy” from the sixteen brokerages that are covering the stock, Analyst RN reports. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $132.84.
Shares of Signature Bank (NASDAQ:SBNY) opened at 122.36 on Wednesday. Signature Bank has a one year low of $86.09 and a one year high of $133.09. The stock’s 50-day moving average is $121.7 and its 200-day moving average is $120.. The company has a market cap of $5.861 billion and a P/E ratio of 24.15.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.02. The company had revenue of $215.77 million for the quarter, compared to the consensus estimate of $189.50 million. During the same quarter in the previous year, the company posted $1.06 earnings per share. On average, analysts predict that Signature Bank will post $5.79 earnings per share for the current fiscal year.
SBNY has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Signature Bank from $136.00 to $142.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Signature Bank in a research note on Thursday, May 29th. They now have a $138.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Signature Bank from an “outperform” rating to a “neutral” rating in a research note on Friday, May 2nd. They now have a $133.70 price target on the stock.
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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