ValuEngine upgraded shares of Signature Bank (NASDAQ:SBNY) from a strong sell rating to a sell rating in a research report report published on Friday, ValuEngine reports.

Several other research firms also recently weighed in on SBNY. BidaskClub downgraded shares of Signature Bank from a buy rating to a hold rating in a report on Friday, August 9th. BMO Capital Markets dropped their price target on shares of Signature Bank from $132.00 to $128.00 and set a market perform rating for the company in a research note on Thursday, May 30th. Raymond James upgraded shares of Signature Bank from an outperform rating to a strong-buy rating and boosted their price target for the stock from $142.00 to $143.00 in a research note on Monday, July 8th. Wedbush downgraded shares of Signature Bank from an outperform rating to a neutral rating and dropped their price target for the stock from $140.00 to $130.00 in a research note on Wednesday, May 15th. Finally, Morgan Stanley dropped their price target on shares of Signature Bank from $146.00 to $145.00 and set an overweight rating for the company in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $145.67.

Signature Bank stock traded up $3.55 during trading on Friday, hitting $119.41. The company had a trading volume of 228,100 shares, compared to its average volume of 407,949. Signature Bank has a 1-year low of $98.54 and a 1-year high of $137.93. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.26. The company’s 50 day simple moving average is $123.38 and its 200-day simple moving average is $126.25. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 1.00 and a beta of 1.35.

Signature Bank (NASDAQ:SBNY) last posted its earnings results on Thursday, July 18th. The bank reported $2.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.01. Signature Bank had a net margin of 32.59% and a return on equity of 13.61%. The firm had revenue of $334.88 million during the quarter, compared to the consensus estimate of $333.25 million. During the same quarter last year, the firm earned $2.83 EPS. As a group, analysts forecast that Signature Bank will post 10.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $4.48 annualized dividend and a dividend yield of 3.75%. Signature Bank’s dividend payout ratio (DPR) is 19.86%.

Several large investors have recently bought and sold shares of SBNY. Bbva Compass Bancshares Inc. grew its stake in shares of Signature Bank by 3.5% during the first quarter. Bbva Compass Bancshares Inc. now owns 2,644 shares of the bank’s stock worth $339,000 after purchasing an additional 89 shares in the last quarter. Eagle Boston Investment Management Inc. grew its stake in shares of Signature Bank by 1.2% during the first quarter. Eagle Boston Investment Management Inc. now owns 7,684 shares of the bank’s stock worth $984,000 after purchasing an additional 91 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Signature Bank by 0.4% during the second quarter. Victory Capital Management Inc. now owns 24,639 shares of the bank’s stock worth $2,977,000 after purchasing an additional 93 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Signature Bank by 1.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 8,011 shares of the bank’s stock worth $968,000 after purchasing an additional 100 shares in the last quarter. Finally, ETF Managers Group LLC grew its stake in shares of Signature Bank by 11.1% during the first quarter. ETF Managers Group LLC now owns 1,015 shares of the bank’s stock worth $130,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 92.27% of the company’s stock.

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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