Signature Bank (NASDAQ:SBNY) had its target price lowered by Raymond James from $133.00 to $130.00 in a research report sent to investors on Friday. Raymond James currently has an outperform rating on the bank’s stock.

Several other research analysts have also recently issued reports on the company. ValuEngine raised Signature Bank from a strong sell rating to a sell rating in a research note on Friday, September 14th. Wells Fargo & Co reissued a buy rating and issued a $135.00 price target on shares of Signature Bank in a research note on Monday, October 1st. Morgan Stanley decreased their price target on Signature Bank from $155.00 to $145.00 and set an equal weight rating for the company in a research note on Tuesday, July 24th. BidaskClub raised Signature Bank from a strong sell rating to a sell rating in a research note on Friday, September 7th. Finally, Hovde Group raised Signature Bank from a market perform rating to an outperform rating and decreased their price target for the stock from $144.00 to $133.00 in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. Signature Bank currently has an average rating of Buy and an average price target of $145.00.

Shares of NASDAQ SBNY opened at $112.80 on Friday. Signature Bank has a 1-year low of $106.39 and a 1-year high of $161.92. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 0.95 and a beta of 1.02.

Signature Bank (NASDAQ:SBNY) last issued its earnings results on Thursday, October 18th. The bank reported $2.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.01. Signature Bank had a return on equity of 14.34% and a net margin of 27.66%. The firm had revenue of $329.34 million for the quarter, compared to analyst estimates of $331.77 million. During the same period last year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts anticipate that Signature Bank will post 11.18 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $2.24 annualized dividend and a yield of 1.99%. Signature Bank’s dividend payout ratio is currently 25.14%.

A number of hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its stake in Signature Bank by 2.8% during the second quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the bank’s stock valued at $1,854,000 after buying an additional 400 shares in the last quarter. Amalgamated Bank boosted its stake in Signature Bank by 3.6% during the first quarter. Amalgamated Bank now owns 11,581 shares of the bank’s stock valued at $1,644,000 after buying an additional 406 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Signature Bank by 5.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,396 shares of the bank’s stock valued at $1,202,000 after buying an additional 516 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Signature Bank by 2.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 21,451 shares of the bank’s stock valued at $2,743,000 after buying an additional 604 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its stake in Signature Bank by 16.7% during the second quarter. Nomura Holdings Inc. now owns 4,460 shares of the bank’s stock valued at $570,000 after buying an additional 639 shares in the last quarter. 95.73% of the stock is owned by institutional investors and hedge funds.

Signature Bank Company Profile

Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.

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Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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