Shares of Signature Bank (NASDAQ:SBNY) have been assigned a consensus recommendation of “Buy” from the nineteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $154.64.

A number of analysts recently weighed in on SBNY shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $169.00 price objective on shares of Signature Bank in a report on Wednesday, June 28th. BidaskClub raised shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Sunday, July 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $166.00 price objective (down previously from $170.00) on shares of Signature Bank in a report on Friday, July 7th. Barclays PLC reaffirmed an “overweight” rating and issued a $170.00 price objective (down previously from $175.00) on shares of Signature Bank in a report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $158.00 price objective on shares of Signature Bank in a report on Friday, July 14th.

Shares of Signature Bank (SBNY) traded up 0.541% during midday trading on Thursday, reaching $134.635. 16,823 shares of the company traded hands. Signature Bank has a 12 month low of $116.68 and a 12 month high of $164.23. The company has a 50 day moving average of $125.41 and a 200 day moving average of $135.10. The firm has a market capitalization of $7.28 billion, a P/E ratio of 21.569 and a beta of 0.96.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.10. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. The business had revenue of $316.94 million for the quarter, compared to analysts’ expectations of $322.22 million. During the same quarter last year, the company earned $2.11 EPS. On average, equities research analysts predict that Signature Bank will post $7.25 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of SBNY. Nordea Investment Management AB boosted its position in shares of Signature Bank by 265.2% during the 2nd quarter. Nordea Investment Management AB now owns 982,154 shares of the bank’s stock valued at $140,969,000 after purchasing an additional 713,190 shares in the last quarter. Koch Industries Inc. boosted its position in shares of Signature Bank by 34,799.2% during the 2nd quarter. Koch Industries Inc. now owns 480,562 shares of the bank’s stock valued at $477,000 after purchasing an additional 479,185 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in shares of Signature Bank by 59.1% during the 2nd quarter. TimesSquare Capital Management LLC now owns 983,300 shares of the bank’s stock valued at $141,133,000 after purchasing an additional 365,400 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Signature Bank during the 2nd quarter valued at about $37,330,000. Finally, Lord Abbett & CO. LLC boosted its position in shares of Signature Bank by 69.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 445,535 shares of the bank’s stock valued at $63,948,000 after purchasing an additional 181,882 shares in the last quarter. Institutional investors own 95.97% of the company’s stock.

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About Signature Bank

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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