Signature Bank (NASDAQ:SBNY) has received a consensus rating of “Buy” from the twenty-one ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $158.56.
A number of analysts have weighed in on SBNY shares. Barclays set a $145.00 target price on shares of Signature Bank and gave the company a “buy” rating in a research report on Wednesday, October 11th. Piper Jaffray Companies reissued a “neutral” rating and set a $140.00 target price on shares of Signature Bank in a research report on Friday, October 13th. BMO Capital Markets raised shares of Signature Bank from a “market perform” rating to an “outperform” rating in a research report on Friday, October 20th. Jefferies Group restated a “buy” rating and set a $155.00 price target on shares of Signature Bank in a report on Tuesday, October 24th. Finally, Morgan Stanley cut Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 price target on the stock. in a report on Monday, November 6th.
Institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC bought a new position in shares of Signature Bank during the 3rd quarter worth approximately $115,000. Zions Bancorporation bought a new position in shares of Signature Bank in the 3rd quarter worth $152,000. Rockefeller Financial Services Inc. bought a new position in shares of Signature Bank in the 3rd quarter worth $192,000. WINTON GROUP Ltd bought a new position in shares of Signature Bank in the 3rd quarter worth $210,000. Finally, IFG Advisory LLC bought a new position in shares of Signature Bank in the 4th quarter worth $216,000. Hedge funds and other institutional investors own 96.40% of the company’s stock.
Signature Bank (NASDAQ:SBNY) last released its earnings results 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. The business had revenue of $328.27 million during the quarter, compared to the consensus estimate of $321.86 million. Signature Bank had a net margin of 25.71% and a return on equity of 12.72%. During the same quarter in the prior year, the firm posted $2.11 EPS. equities research analysts forecast that Signature Bank will post 11.13 earnings per share for the current fiscal year.
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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.
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