Shares of Signature Bank (NASDAQ:SBNY) have been given a consensus recommendation of “Buy” by the sixteen analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $171.00.

Several equities analysts have issued reports on the company. BidaskClub upgraded Signature Bank from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods set a $164.00 target price on Signature Bank and gave the stock a “buy” rating in a research report on Monday, April 3rd. ValuEngine cut Signature Bank from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Morgan Stanley boosted their target price on Signature Bank from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Finally, BMO Capital Markets restated a “hold” rating and issued a $170.00 price target on shares of Signature Bank in a report on Wednesday, March 22nd.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Signature Bank during the fourth quarter worth $8,006,000. Cadence Capital Management LLC raised its position in shares of Signature Bank by 5.2% in the fourth quarter. Cadence Capital Management LLC now owns 1,917 shares of the bank’s stock valued at $288,000 after buying an additional 94 shares during the period. Tredje AP fonden raised its position in shares of Signature Bank by 28.5% in the fourth quarter. Tredje AP fonden now owns 1,850 shares of the bank’s stock valued at $278,000 after buying an additional 410 shares during the period. Federated Investors Inc. PA raised its position in shares of Signature Bank by 9.3% in the fourth quarter. Federated Investors Inc. PA now owns 31,382 shares of the bank’s stock valued at $4,714,000 after buying an additional 2,668 shares during the period. Finally, Elkfork Partners LLC purchased a new position in shares of Signature Bank during the fourth quarter valued at $450,000. 96.37% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This story was first posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://www.americanbankingnews.com/2017/06/23/signature-bank-sbny-receives-average-rating-of-buy-from-brokerages.html.

Signature Bank (NASDAQ SBNY) opened at 136.68 on Friday. The stock has a 50 day moving average price of $142.79 and a 200-day moving average price of $149.12. Signature Bank has a one year low of $113.53 and a one year high of $164.23. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 17.34 and a beta of 0.93.

Signature Bank (NASDAQ:SBNY) last posted its earnings results on Wednesday, April 19th. The bank reported $2.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.10 by $0.05. The business had revenue of $311.63 million during the quarter, compared to the consensus estimate of $311.70 million. Signature Bank had a return on equity of 12.37% and a net margin of 30.53%. During the same period in the previous year, the business earned $1.97 EPS. On average, analysts predict that Signature Bank will post $9.41 earnings per share for the current fiscal year.

About Signature Bank

Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.

Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.