Signature Bank (NASDAQ:SBNY) had its price target increased by Barclays from $140.00 to $151.00 in a research report issued on Tuesday. The firm currently has an “overweight” rating on the bank’s stock. Barclays’ price objective would suggest a potential upside of 10.01% from the stock’s current price.
Several other analysts have also recently commented on SBNY. Jefferies Group restated a “buy” rating and issued a $145.00 price target (down previously from $169.00) on shares of Signature Bank in a report on Thursday, September 7th. Hovde Group upgraded Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 price target for the company in a report on Monday, September 11th. Morgan Stanley decreased their target price on Signature Bank from $164.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, September 15th. Wedbush cut Signature Bank from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $157.00 to $126.00 in a report on Wednesday, September 20th. Finally, Bank of America reiterated a “buy” rating and set a $165.00 target price (down previously from $175.00) on shares of Signature Bank in a report on Wednesday, September 20th. One 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. The company currently has an average rating of “Buy” and a consensus price target of $154.93.
Signature Bank (NASDAQ SBNY) traded down $0.21 on Tuesday, reaching $137.26. The company’s stock had a trading volume of 208,700 shares, compared to its average volume of 474,892. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.71. The stock has a market cap of $7,368.53, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.76 and a beta of 1.02. Signature Bank has a 52 week low of $116.68 and a 52 week high of $164.23.
Several large investors have recently modified their holdings of SBNY. Steward Partners Investment Advisory LLC purchased a new position in Signature Bank in the 3rd quarter worth approximately $115,000. Public Employees Retirement System of Ohio boosted its holdings in Signature Bank by 0.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,819 shares of the bank’s stock worth $8,427,000 after acquiring an additional 478 shares during the period. California Public Employees Retirement System boosted its holdings in Signature Bank by 8.4% in the 3rd quarter. California Public Employees Retirement System now owns 118,060 shares of the bank’s stock worth $15,116,000 after acquiring an additional 9,160 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Signature Bank by 3.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 17,895 shares of the bank’s stock worth $2,291,000 after acquiring an additional 559 shares during the period. Finally, Zions Bancorporation purchased a new position in Signature Bank in the 3rd quarter worth approximately $152,000. Institutional investors and hedge funds own 96.30% 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.
