Barclays PLC Analysts Give Signature Bank (SBNY) a $145.00 Price Target
Signature Bank (NASDAQ:SBNY) has been assigned a $145.00 price objective by Barclays PLC in a research report issued to clients and investors on Wednesday. The brokerage presently has a “buy” rating on the bank’s stock. Barclays PLC’s price objective points to a potential upside of 15.37% from the stock’s current price.
Several other brokerages have also recently weighed in on SBNY. Jefferies Group LLC reissued a “buy” rating and issued a $169.00 price objective (down previously from $175.00) on shares of Signature Bank in a research note on Monday, June 19th. BidaskClub raised shares of Signature Bank from a “sell” rating to a “hold” rating in a research note on Sunday, July 2nd. Morgan Stanley reissued an “overweight” rating and issued a $166.00 price objective (down previously from $170.00) on shares of Signature Bank in a research note on Friday, July 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $158.00 price objective on shares of Signature Bank in a research note on Friday, July 14th. Finally, Wedbush reissued an “outperform” rating and issued a $165.00 price objective on shares of Signature Bank in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Signature Bank presently has a consensus rating of “Buy” and a consensus price target of $155.60.
Signature Bank (NASDAQ SBNY) traded down 1.16% on Wednesday, reaching $125.68. The company’s stock had a trading volume of 355,127 shares. The firm’s 50 day moving average is $125.53 and its 200-day moving average is $136.39. Signature Bank has a 12 month low of $113.53 and a 12 month high of $164.23. The firm has a market cap of $6.80 billion, a P/E ratio of 20.13 and a beta of 0.96.
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 analysts’ consensus estimates of $2.22 by ($0.01). The company had revenue of $316.79 million for the quarter, compared to the consensus estimate of $324.44 million. Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. During the same period in the previous year, the firm posted $1.90 EPS. On average, equities research analysts anticipate that Signature Bank will post $7.19 EPS for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of SBNY. Nordea Investment Management AB raised its holdings in shares of Signature Bank by 265.2% in the 2nd quarter. Nordea Investment Management AB now owns 982,154 shares of the bank’s stock worth $140,969,000 after acquiring an additional 713,190 shares during the last quarter. 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 worth $477,000 after acquiring an additional 479,185 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of Signature Bank by 59.1% in the 2nd quarter. TimesSquare Capital Management LLC now owns 983,300 shares of the bank’s stock worth $141,133,000 after acquiring an additional 365,400 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Signature Bank in the 2nd quarter worth about $37,330,000. Finally, Clearbridge Investments LLC raised its holdings in shares of Signature Bank by 42.3% in the 1st quarter. Clearbridge Investments LLC now owns 834,302 shares of the bank’s stock worth $123,802,000 after acquiring an additional 248,022 shares during the last quarter. Institutional investors 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.
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