Short Interest in Signature Bank Decreases By 20.8% (SBNY)
Signature Bank (NASDAQ:SBNY) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 1,297,083 shares, a decline of 20.8% from the July 15th total of 1,638,045 shares, StockRatingsNetwork.com reports. Currently, 2.6% of the company’s stock are sold short. Based on an average daily trading volume, of 433,573 shares, the days-to-cover ratio is currently 3.0 days.
A number of analysts have recently weighed in on SBNY shares. Analysts at Deutsche Bank upgraded shares of Signature Bank from an “outperform” rating to a “strong-buy” rating in a research note on Friday, August 1st. They now have a $136.00 price target on the stock. Separately, analysts at Raymond James upgraded shares of Signature Bank from an “outperform” rating to a “strong-buy” rating in a research note on Friday, August 1st. They now have a $136.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Signature Bank from $142.00 to $145.00 in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Signature Bank currently has an average rating of “Buy” and an average price target of $137.54.
Shares of Signature Bank (NASDAQ:SBNY) opened at 114.06 on Monday. Signature Bank has a 52 week low of $86.09 and a 52 week high of $133.09. The stock has a 50-day moving average of $118.9 and a 200-day moving average of $121.4. The company has a market cap of $5.739 billion and a P/E ratio of 21.00.
Signature Bank (NASDAQ:SBNY) last released its earnings data on Tuesday, July 22nd. The company reported $1.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.42 by $0.02. During the same quarter last year, the company posted $1.12 earnings per share. Analysts expect that Signature Bank will post $5.82 EPS for the current fiscal year.
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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