Signature Bank (SBNY) Upgraded by Barclays PLC to Overweight
Signature Bank (NASDAQ:SBNY) was upgraded by Barclays PLC from an “equal weight” rating to an “overweight” rating in a research report issued on Wednesday. The brokerage currently has a $139.00 target price on the stock, down from their prior target price of $150.00. Barclays PLC’s price target would indicate a potential upside of 19.87% from the company’s current price.
SBNY has been the subject of a number of other reports. Jefferies Group cut their price target on Signature Bank from $150.00 to $149.00 and set a “buy” rating for the company in a research note on Friday, September 9th. Morgan Stanley reissued an “overweight” rating on shares of Signature Bank in a report on Wednesday, June 29th. FBR & Co lowered their price objective on Signature Bank from $167.00 to $155.00 and set an “outperform” rating on the stock in a report on Thursday, July 21st. Zacks Investment Research raised Signature Bank from a “sell” rating to a “hold” rating in a report on Friday, September 16th. Finally, Raymond James Financial Inc. raised Signature Bank from an “outperform” rating to a “strong-buy” rating and set a $162.00 price objective on the stock in a report on Tuesday, June 21st. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $157.41.
Signature Bank (NASDAQ:SBNY) opened at 115.96 on Wednesday. The firm has a market cap of $6.23 billion, a P/E ratio of 15.01 and a beta of 1.01. The stock’s 50 day moving average price is $117.96 and its 200 day moving average price is $128.36. Signature Bank has a 1-year low of $114.01 and a 1-year high of $163.15.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $1.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.97 by $0.07. Signature Bank had a return on equity of 12.89% and a net margin of 32.08%. During the same period in the previous year, the company earned $1.77 EPS. Equities research analysts predict that Signature Bank will post $8.00 EPS for the current year.
Institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. increased its position in Signature Bank by 0.3% in the second quarter. Raymond James Trust N.A. now owns 3,247 shares of the company’s stock valued at $406,000 after buying an additional 11 shares during the period. Montag & Caldwell LLC increased its position in Signature Bank by 0.3% in the second quarter. Montag & Caldwell LLC now owns 6,557 shares of the company’s stock valued at $819,000 after buying an additional 20 shares during the period. World Asset Management Inc increased its position in Signature Bank by 1.1% in the second quarter. World Asset Management Inc now owns 2,647 shares of the company’s stock valued at $331,000 after buying an additional 28 shares during the period. Moody Lynn & Lieberson LLC increased its position in Signature Bank by 1.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 3,623 shares of the company’s stock valued at $453,000 after buying an additional 35 shares during the period. Finally, Anchor Capital Advisors LLC increased its position in Signature Bank by 0.6% in the second quarter. Anchor Capital Advisors LLC now owns 6,366 shares of the company’s stock valued at $795,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.
Signature Bank Company Profile
Signature Bank (the Bank) is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area, including those in Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island and Connecticut. The Bank offers a range of business and personal banking products and services.
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