BidaskClub downgraded shares of Signature Bank (NASDAQ:SBNY) from a buy rating to a hold rating in a research note issued to investors on Thursday, BidAskClub reports.

Other research analysts have also issued reports about the company. BMO Capital Markets increased their price objective on Signature Bank from $146.00 to $154.00 and gave the stock a market perform rating in a research note on Wednesday, January 22nd. ValuEngine upgraded Signature Bank from a sell rating to a hold rating in a research note on Monday. Stephens increased their price objective on Signature Bank from $140.00 to $144.00 and gave the stock an overweight rating in a research note on Thursday, December 12th. Morgan Stanley increased their price objective on Signature Bank from $143.00 to $150.00 and gave the stock an overweight rating in a research note on Thursday, December 12th. Finally, Hovde Group lowered Signature Bank from an outperform rating to a market perform rating and set a $161.00 price objective for the company. in a research note on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $145.00.

Shares of NASDAQ SBNY traded down $0.04 during trading hours on Thursday, reaching $144.36. The stock had a trading volume of 184,502 shares, compared to its average volume of 397,600. The business’s fifty day moving average is $140.64 and its two-hundred day moving average is $126.98. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.98 and a quick ratio of 0.97. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.17 and a beta of 1.37. Signature Bank has a twelve month low of $111.91 and a twelve month high of $148.64.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.09. Signature Bank had a return on equity of 12.57% and a net margin of 30.36%. The firm had revenue of $345.58 million during the quarter, compared to analyst estimates of $335.91 million. During the same period in the prior year, the company posted $2.94 earnings per share. Sell-side analysts forecast that Signature Bank will post 11.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, January 30th. Signature Bank’s payout ratio is presently 20.63%.

Several hedge funds have recently made changes to their positions in the company. NumerixS Investment Technologies Inc bought a new position in Signature Bank in the fourth quarter valued at about $55,000. Advisory Services Network LLC boosted its holdings in Signature Bank by 45.1% in the fourth quarter. Advisory Services Network LLC now owns 457 shares of the bank’s stock valued at $62,000 after acquiring an additional 142 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Signature Bank by 174.1% in the third quarter. Meeder Asset Management Inc. now owns 1,313 shares of the bank’s stock valued at $157,000 after acquiring an additional 834 shares during the last quarter. Cigna Investments Inc. New bought a new position in Signature Bank in the fourth quarter valued at about $204,000. Finally, Ingalls & Snyder LLC bought a new position in Signature Bank in the fourth quarter valued at about $201,000. Institutional investors own 90.93% 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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