Signature Bank (NASDAQ:SBNY) PT Lowered to $162.00 at Deutsche Bank AG
Signature Bank (NASDAQ:SBNY) had its price objective reduced by Deutsche Bank AG from $178.00 to $162.00 in a report issued on Thursday. The firm currently has a “buy” rating on the bank’s stock. Deutsche Bank AG’s price objective points to a potential upside of 20.83% from the company’s previous close.
Other analysts have also issued reports about the stock. Jefferies Group LLC restated a “buy” rating and issued a $175.00 price target on shares of Signature Bank in a research report on Thursday, May 25th. Bank of America Corporation reiterated a “buy” rating and set a $175.00 target price on shares of Signature Bank in a research report on Thursday, May 25th. ValuEngine upgraded shares of Signature Bank from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. Keefe, Bruyette & Woods set a $164.00 target price on shares of Signature Bank and gave the company a “buy” rating in a research report on Monday, April 3rd. Finally, Maxim Group reiterated a “buy” rating and set a $175.00 target price on shares of Signature Bank in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $167.85.
Signature Bank (SBNY) traded down 1.19% during mid-day trading on Thursday, hitting $134.07. The stock had a trading volume of 806,795 shares. The firm’s 50-day moving average is $142.80 and its 200 day moving average is $147.62. The stock has a market cap of $7.24 billion, a PE ratio of 17.01 and a beta of 0.96. Signature Bank has a one year low of $113.53 and a one year high of $164.23.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by $0.01. The business had revenue of $316.79 million for the quarter, compared to the consensus estimate of $324.44 million. Signature Bank had a net margin of 4.41% and a return on equity of 1.48%. During the same quarter in the prior year, the business posted $1.90 EPS. Equities research analysts expect that Signature Bank will post $9.35 EPS for the current year.
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Several institutional investors have recently made changes to their positions in the company. Atria Investments LLC increased its position in shares of Signature Bank by 0.3% in the first quarter. Atria Investments LLC now owns 2,623 shares of the bank’s stock worth $389,000 after buying an additional 8 shares in the last quarter. Tudor Investment Corp ET AL increased its position in shares of Signature Bank by 0.6% in the first quarter. Tudor Investment Corp ET AL now owns 2,418 shares of the bank’s stock worth $359,000 after buying an additional 14 shares in the last quarter. Bbva Compass Bancshares Inc. increased its position in shares of Signature Bank by 0.4% in the first quarter. Bbva Compass Bancshares Inc. now owns 5,195 shares of the bank’s stock worth $771,000 after buying an additional 21 shares in the last quarter. Sheets Smith Wealth Management increased its position in shares of Signature Bank by 0.8% in the first quarter. Sheets Smith Wealth Management now owns 5,233 shares of the bank’s stock worth $777,000 after buying an additional 39 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Signature Bank by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 6,120 shares of the bank’s stock worth $909,000 after buying an additional 40 shares in the last quarter. 96.82% of the stock is owned by institutional investors.
Signature Bank Company Profile
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.
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