Signature Bank Receives Consensus Rating of “Buy” from Analysts (NASDAQ:SBNY)
Shares of Signature Bank (NASDAQ:SBNY) have been given an average recommendation of “Buy” by the fifteen brokerages that are presently covering the stock, Analyst Ratings Network reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $137.54.
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.
Signature Bank (NASDAQ:SBNY) opened at 118.38 on Wednesday. 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 $117.7 and a 200-day moving average of $121.. The company has a market cap of $5.956 billion and a P/E ratio of 21.83.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results 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 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.
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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