Signature Bank (NASDAQ:SBNY) had its price target increased by equities research analysts at BMO Capital Markets to $192.00 in a report issued on Friday, The Fly reports. The firm currently has an “outperform” rating on the bank’s stock. BMO Capital Markets’ target price indicates a potential upside of 25.13% from the stock’s current price.
Several other research analysts have also commented on the stock. TheStreet raised shares of Signature Bank from a “c+” rating to a “b” rating in a report on Wednesday, November 29th. Jefferies Group reaffirmed a “buy” rating and issued a $155.00 price target on shares of Signature Bank in a report on Tuesday, October 24th. Barclays lifted their price target on shares of Signature Bank from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Morgan Stanley downgraded shares of Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 price objective on the stock. in a research report on Monday, November 6th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $140.00 price objective on shares of Signature Bank in a research report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Signature Bank presently has an average rating of “Buy” and a consensus price target of $158.56.
Signature Bank (NASDAQ:SBNY) traded up $5.39 during midday trading on Friday, hitting $153.44. 1,049,100 shares of the stock traded hands, compared to its average volume of 436,133. Signature Bank has a 1-year low of $116.68 and a 1-year high of $164.23. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market cap of $7,947.77, a price-to-earnings ratio of 21.49, a PEG ratio of 1.33 and a beta of 1.02.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.20. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. During the same period last year, the firm posted $2.11 earnings per share. equities research analysts expect that Signature Bank will post 7.25 earnings per share for the current year.
A number of large investors have recently modified their holdings of SBNY. Wells Fargo & Company MN lifted its position in Signature Bank by 17.2% in the 2nd quarter. Wells Fargo & Company MN now owns 167,124 shares of the bank’s stock valued at $23,987,000 after purchasing an additional 24,489 shares during the last quarter. Riverhead Capital Management LLC raised its position in shares of Signature Bank by 77.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,195 shares of the bank’s stock worth $459,000 after buying an additional 1,395 shares in the last quarter. Laurion Capital Management LP bought a new stake in shares of Signature Bank during the 2nd quarter worth about $258,000. PNC Financial Services Group Inc. raised its position in shares of Signature Bank by 25.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,306 shares of the bank’s stock worth $474,000 after buying an additional 678 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its position in shares of Signature Bank by 8.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 10,900 shares of the bank’s stock worth $1,564,000 after buying an additional 850 shares in the last quarter. Hedge funds and other institutional investors own 96.30% of the company’s stock.
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.