Signature Bank Given Consensus Rating of “Buy” by Brokerages (NASDAQ:SBNY)
Shares of Signature Bank (NASDAQ:SBNY) have been given a consensus rating of “Buy” by the fifteen ratings firms that are covering the company, AmericanBankingNews.com reports. Two equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $137.54.
Signature Bank (NASDAQ:SBNY) traded up 0.31% on Wednesday, hitting $116.305. 56,674 shares of the company’s stock traded hands. 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 $118.4 and its 200-day moving average is $121.4. The company has a market cap of $5.852 billion and a P/E ratio of 21.35. Signature Bank also saw a significant decline in short interest in 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. Approximately 2.6% of the shares of the company are sold short. Based on an average daily trading volume, of 433,573 shares, the short-interest ratio is presently 3.0 days.
Signature Bank (NASDAQ:SBNY) last announced its earnings results on Tuesday, July 22nd. The company reported $1.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.42 by $0.02. During the same quarter in the prior year, the company posted $1.12 earnings per share. Analysts expect that Signature Bank will post $5.82 EPS for the current fiscal year.
A number of research firms have recently commented on SBNY. 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.
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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