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.

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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.

Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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