Signature Bank (SBNY) Given Hold Rating at BMO Capital Markets
Signature Bank (NASDAQ:SBNY)‘s stock had its “hold” rating reaffirmed by equities research analysts at BMO Capital Markets in a research note issued on Thursday. They currently have a $157.00 target price on the bank’s stock. BMO Capital Markets’ price target suggests a potential upside of 15.71% from the company’s previous close.
Several other equities analysts have also commented on the stock. UBS AG lowered shares of Signature Bank from a “strong-buy” rating to an “outperform” rating in a report on Thursday, April 6th. FBR & Co restated an “outperform” rating and issued a $170.00 price objective (down from $180.00) on shares of Signature Bank in a report on Saturday, April 22nd. Piper Jaffray Companies restated a “neutral” rating and issued a $157.00 price objective (down from $167.00) on shares of Signature Bank in a report on Saturday, April 22nd. Jefferies Group LLC restated a “buy” rating and issued a $169.00 price objective on shares of Signature Bank in a report on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $158.00 price objective on shares of Signature Bank in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $169.08.
Shares of Signature Bank (NASDAQ:SBNY) traded down 0.77% on Thursday, hitting $134.64. 529,360 shares of the company were exchanged. The stock has a market capitalization of $7.27 billion, a PE ratio of 17.08 and a beta of 0.96. Signature Bank has a 52-week low of $113.53 and a 52-week high of $164.23. The firm’s 50-day moving average is $142.80 and its 200-day moving average is $147.62.
Signature Bank (NASDAQ:SBNY) last posted its earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.22 by $0.01. The firm had revenue of $316.79 million during the quarter, compared to analyst estimates of $324.44 million. Signature Bank had a net margin of 30.53% and a return on equity of 12.37%. During the same quarter in the previous year, the firm earned $1.90 earnings per share. Equities research analysts predict that Signature Bank will post $9.35 earnings per share for the current year.
Several large investors have recently made changes to their positions in SBNY. Whittier Trust Co. increased its stake in shares of Signature Bank by 2.6% in the second quarter. Whittier Trust Co. now owns 7,991 shares of the bank’s stock worth $1,147,000 after buying an additional 206 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of Signature Bank by 1.4% in the second quarter. State Treasurer State of Michigan now owns 22,100 shares of the bank’s stock worth $3,172,000 after buying an additional 300 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of Signature Bank during the second quarter worth approximately $345,000. BTIM Corp. increased its stake in shares of Signature Bank by 3.1% in the second quarter. BTIM Corp. now owns 75,543 shares of the bank’s stock worth $10,843,000 after buying an additional 2,299 shares in the last quarter. Finally, Aperio Group LLC increased its stake in shares of Signature Bank by 9.0% in the second quarter. Aperio Group LLC now owns 8,143 shares of the bank’s stock worth $1,169,000 after buying an additional 669 shares in the last quarter. 96.82% of the stock is currently 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.
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.