Stephens Reiterates “Buy” Rating for Signature Bank (SBNY)

Signature Bank (NASDAQ:SBNY)‘s stock had its “buy” rating reiterated by equities research analysts at Stephens in a report issued on Friday.

Other equities research analysts have also recently issued reports about the stock. TheStreet upgraded shares of Signature Bank from a “c+” rating to a “b” rating in a research report on Wednesday, November 29th. BMO Capital Markets reiterated a “buy” rating and issued a $163.00 price target on shares of Signature Bank in a research report on Wednesday, December 20th. Barclays set a $145.00 price target on shares of Signature Bank and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $142.00 price target on shares of Signature Bank in a research report on Tuesday, October 3rd. Finally, Jefferies Group reiterated a “buy” rating and issued a $155.00 price target on shares of Signature Bank in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Signature Bank currently has an average rating of “Buy” and a consensus price target of $158.56.

Shares of Signature Bank (SBNY) opened at $159.83 on Friday. Signature Bank has a one year low of $116.68 and a one year high of $164.23. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 1.10. The firm has a market cap of $8,580.15, a PE ratio of 17.60, a P/E/G ratio of 1.44 and a beta of 1.02.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, January 18th. The bank reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.20. Signature Bank had a net margin of 25.71% and a return on equity of 12.72%. The business had revenue of $328.27 million for the quarter, compared to analysts’ expectations of $321.86 million. During the same period in the previous year, the business earned $2.11 earnings per share. research analysts predict that Signature Bank will post 10.45 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of SBNY. YorkBridge Wealth Partners LLC increased its stake in Signature Bank by 6.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after purchasing an additional 41 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Signature Bank in the 3rd quarter worth about $115,000. Zions Bancorporation purchased a new position in Signature Bank in the 3rd quarter worth about $152,000. Rockefeller Financial Services Inc. purchased a new position in Signature Bank in the 3rd quarter worth about $192,000. Finally, WINTON GROUP Ltd purchased a new position in Signature Bank in the 3rd quarter worth about $210,000. 96.30% of the stock is currently owned by hedge funds and other institutional investors.

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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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