Raymond James upgraded shares of Signature Bank (NASDAQ:SBNY) from an outperform rating to a strong-buy rating in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has $143.00 price target on the bank’s stock, up from their prior price target of $142.00.

SBNY has been the subject of several other reports. Wedbush reissued an outperform rating and set a $124.00 price objective on shares of New Relic in a report on Wednesday, May 15th. BMO Capital Markets raised Tourmaline Oil from a market perform rating to an outperform rating in a report on Thursday, May 30th. FIG Partners lowered Signature Bank from an outperform rating to a market perform rating in a report on Thursday, April 18th. ValuEngine raised Vermillion from a hold rating to a buy rating in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. reduced their price objective on Realogy from $14.00 to $12.00 and set an underweight rating for the company in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Signature Bank currently has a consensus rating of Buy and a consensus target price of $144.77.

SBNY stock opened at $126.14 on Monday. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.05 and a beta of 1.36. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.19. The firm has a 50 day simple moving average of $118.75. Signature Bank has a 12-month low of $98.54 and a 12-month high of $137.93.

Signature Bank (NASDAQ:SBNY) last released its earnings results on Wednesday, April 17th. The bank reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.11). The business had revenue of $325.08 million during the quarter, compared to the consensus estimate of $332.35 million. Signature Bank had a net margin of 34.17% and a return on equity of 14.15%. During the same period in the prior year, the company earned $2.69 earnings per share. On average, equities research analysts anticipate that Signature Bank will post 11.02 earnings per share for the current year.

Several large investors have recently bought and sold shares of SBNY. LPL Financial LLC lifted its position in shares of Signature Bank by 8.5% during the fourth quarter. LPL Financial LLC now owns 3,940 shares of the bank’s stock worth $405,000 after acquiring an additional 308 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Signature Bank during the fourth quarter worth $563,000. Advisor Group Inc. lifted its position in shares of Signature Bank by 3.6% during the fourth quarter. Advisor Group Inc. now owns 3,329 shares of the bank’s stock worth $342,000 after acquiring an additional 115 shares in the last quarter. State of Tennessee Treasury Department lifted its position in shares of Signature Bank by 2.0% during the fourth quarter. State of Tennessee Treasury Department now owns 34,580 shares of the bank’s stock worth $3,555,000 after acquiring an additional 687 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Signature Bank by 5.1% during the fourth quarter. GSA Capital Partners LLP now owns 3,978 shares of the bank’s stock worth $409,000 after acquiring an additional 193 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

About Signature Bank

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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