Signature Bank (NASDAQ:SBNY)‘s stock had its “buy” rating restated by Keefe, Bruyette & Woods in a research note issued on Tuesday. They currently have a $142.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 10.61% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. FIG Partners reiterated an “outperform” rating and set a $150.00 target price on shares of Signature Bank in a research report on Monday. Bank of America Corporation reiterated a “buy” rating and issued a $165.00 target price (down previously from $175.00) on shares of Signature Bank in a research note on Wednesday, September 20th. Wedbush lowered shares of Signature Bank from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $157.00 to $126.00 in a research report on Wednesday, September 20th. Morgan Stanley lowered their price target on shares of Signature Bank from $164.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, September 15th. Finally, Hovde Group upgraded shares of Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 price target on the stock in a research note on Monday, September 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Signature Bank currently has a consensus rating of “Buy” and an average price target of $157.27.

Shares of Signature Bank (SBNY) traded down 0.67% during trading on Tuesday, reaching $128.38. The company’s stock had a trading volume of 358,489 shares. The stock has a market cap of $6.94 billion, a P/E ratio of 20.57 and a beta of 0.96. The stock has a 50-day moving average of $126.07 and a 200-day moving average of $137.17. Signature Bank has a 52-week low of $113.53 and a 52-week high of $164.23.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data 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). Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. The firm had revenue of $316.79 million during the quarter, compared to analysts’ expectations of $324.44 million. During the same period last year, the business posted $1.90 EPS. Analysts predict that Signature Bank will post $7.20 earnings per share for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of SBNY. Lord Abbett & CO. LLC increased its stake in Signature Bank by 69.0% in the 2nd quarter. Lord Abbett & CO. LLC now owns 445,535 shares of the bank’s stock worth $63,948,000 after acquiring an additional 181,882 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Signature Bank by 77.4% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,200 shares of the bank’s stock valued at $746,000 after acquiring an additional 2,268 shares in the last quarter. Tandem Investment Advisors Inc. raised its holdings in shares of Signature Bank by 32.5% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 10,326 shares of the bank’s stock valued at $1,482,000 after acquiring an additional 2,534 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Signature Bank by 1.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 65,341 shares of the bank’s stock valued at $9,378,000 after acquiring an additional 685 shares in the last quarter. Finally, Koch Industries Inc. raised its holdings in shares of Signature Bank by 34,799.2% in the 2nd quarter. Koch Industries Inc. now owns 480,562 shares of the bank’s stock valued at $477,000 after acquiring an additional 479,185 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

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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