Signature Bank (NASDAQ:SBNY) had its price target raised by investment analysts at Maxim Group from $175.00 to $200.00 in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the bank’s stock. Maxim Group’s price objective would suggest a potential upside of 30.34% from the company’s previous close.
A number of other analysts also recently weighed in on SBNY. Stephens reiterated a “buy” rating on shares of Signature Bank in a research report on Friday. Piper Jaffray Companies reiterated a “hold” rating and issued a $149.00 price target on shares of Signature Bank in a research report on Tuesday, January 9th. FIG Partners reiterated an “outperform” rating and issued a $150.00 price target on shares of Signature Bank in a research report on Monday, October 2nd. Barclays set a $145.00 price target on shares of Signature Bank and gave the company a “buy” rating in a research report on Wednesday, October 11th. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. Signature Bank presently has an average rating of “Buy” and a consensus price target of $156.75.
Signature Bank (NASDAQ SBNY) opened at $153.44 on Friday. The stock has a market cap of $7,947.77, a PE ratio of 21.49, a PEG ratio of 1.33 and a beta of 1.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.91. Signature Bank has a one year low of $116.68 and a one year high of $164.23.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Signature Bank by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,277,955 shares of the bank’s stock worth $614,014,000 after buying an additional 54,545 shares during the period. Capital Research Global Investors raised its holdings in Signature Bank by 2.6% during the 2nd quarter. Capital Research Global Investors now owns 2,894,365 shares of the bank’s stock worth $415,428,000 after buying an additional 72,806 shares during the period. State Street Corp raised its holdings in Signature Bank by 0.4% during the 2nd quarter. State Street Corp now owns 2,624,668 shares of the bank’s stock worth $376,718,000 after buying an additional 9,285 shares during the period. Harding Loevner LP raised its holdings in Signature Bank by 138.0% during the 3rd quarter. Harding Loevner LP now owns 1,802,550 shares of the bank’s stock worth $94,865,000 after buying an additional 1,045,206 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Signature Bank by 44.6% during the 3rd quarter. Nordea Investment Management AB now owns 1,419,824 shares of the bank’s stock worth $181,794,000 after buying an additional 437,670 shares during the period. Hedge funds and other institutional investors own 96.30% of the company’s stock.
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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.
