Signature Bank (SBNY) Given a $145.00 Price Target at Barclays PLC
Several other equities analysts also recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Signature Bank from $164.00 to $150.00 and set an overweight rating for the company in a report on Friday, September 15th. TheStreet cut shares of Signature Bank from a b rating to a c+ rating in a research note on Wednesday, July 19th. Hovde Group upgraded shares of Signature Bank from an underperform rating to a market perform rating and set a $132.00 price objective on the stock in a research note on Monday, September 11th. BidaskClub cut shares of Signature Bank from a sell rating to a strong sell rating in a research note on Monday, June 26th. Finally, Deutsche Bank AG cut their price objective on shares of Signature Bank from $178.00 to $162.00 and set a buy rating on the stock in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $155.60.
Shares of Signature Bank (SBNY) traded down 1.19% during trading on Wednesday, reaching $124.19. 272,676 shares of the company’s stock were exchanged. Signature Bank has a 52 week low of $113.53 and a 52 week high of $164.23. The company’s 50-day moving average is $125.43 and its 200 day moving average is $136.31. The stock has a market capitalization of $6.72 billion, a PE ratio of 19.90 and a beta of 0.96.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.01). Signature Bank had a net margin of 23.62% and a return on equity of 12.61%. The firm had revenue of $316.79 million for the quarter, compared to analyst estimates of $324.44 million. During the same period last year, the firm posted $1.90 EPS. On average, analysts forecast that Signature Bank will post $7.19 earnings per share for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Pacad Investment Ltd. purchased a new position in Signature Bank in the 2nd quarter worth about $100,000. 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. Commonwealth Bank of Australia increased its stake in Signature Bank by 5.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock worth $176,000 after purchasing an additional 60 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Signature Bank by 1.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock worth $202,000 after purchasing an additional 21 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Signature Bank in the 1st quarter worth about $219,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
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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