Signature Bank (NASDAQ:SBNY) was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Friday, Marketbeat.com reports.

Other research analysts also recently issued reports about the company. Deutsche Bank AG reduced their target price on Signature Bank from $178.00 to $162.00 and set a “buy” rating on the stock in a report on Thursday, July 20th. Maxim Group reissued a “buy” rating and issued a $175.00 target price on shares of Signature Bank in a report on Wednesday, July 19th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $158.00 target price on shares of Signature Bank in a report on Friday, July 14th. Jefferies Group LLC reissued a “buy” rating and issued a $169.00 target price on shares of Signature Bank in a report on Wednesday, June 28th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $165.00 target price (down from $175.00) on shares of Signature Bank in a report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Signature Bank has a consensus rating of “Buy” and a consensus price target of $154.13.

Shares of Signature Bank (NASDAQ SBNY) traded up 6.35% during mid-day trading on Friday, hitting $134.13. The company had a trading volume of 1,208,207 shares. The firm has a market cap of $7.26 billion, a PE ratio of 21.49 and a beta of 0.96. Signature Bank has a 12-month low of $115.95 and a 12-month high of $164.23. The firm’s 50 day moving average is $124.72 and its 200-day moving average is $135.35.

Signature Bank (NASDAQ:SBNY) last announced its earnings results on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, topping the consensus estimate of $2.19 by $0.10. The business had revenue of $316.94 million for the quarter, compared to the consensus estimate of $322.22 million. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. During the same period in the previous year, the business earned $2.11 EPS. On average, equities analysts expect that Signature Bank will post $7.15 EPS for the current year.

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A number of large investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL lifted its holdings in Signature Bank by 0.6% during the 1st 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. Bronfman E.L. Rothschild L.P. lifted its holdings in Signature Bank by 1.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock worth $202,000 after buying an additional 21 shares in the last quarter. Cadence Capital Management LLC lifted its holdings in Signature Bank by 1.1% during the 2nd quarter. Cadence Capital Management LLC now owns 2,118 shares of the bank’s stock worth $304,000 after buying an additional 23 shares in the last quarter. Boston Private Wealth LLC lifted its holdings in Signature Bank by 0.3% during the 2nd quarter. Boston Private Wealth LLC now owns 7,568 shares of the bank’s stock worth $1,086,000 after buying an additional 25 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Signature Bank by 0.7% during the 1st 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. 95.77% of the stock is currently owned by hedge funds and other 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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