Media headlines about Signature Bank (NASDAQ:SBNY) have trended somewhat positive this week, according to Accern Sentiment. The research firm identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Signature Bank earned a media sentiment score of 0.22 on Accern’s scale. Accern also assigned news stories about the bank an impact score of 47.0267707654164 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:
- Signature Bank (SBNY) Price Target Lowered to $150.00 at Morgan Stanley (americanbankingnews.com)
- Citizens Financial : Banking Stock Performance Review — Signature Bank, United Bankshares, BankUnited, and Citizens Financial (4-traders.com)
- Hovde Group Upgrades Signature Bank (SBNY) to Market Perform (americanbankingnews.com)
- Signature Bank to Post Q3 2017 Earnings of $2.24 Per Share, Jefferies Group Forecasts (SBNY) (americanbankingnews.com)
SBNY has been the subject of several analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $169.00 price objective on shares of Signature Bank in a report on Wednesday, June 28th. Bank of America Corporation reaffirmed a “buy” rating and issued a $175.00 price target on shares of Signature Bank in a report on Thursday, May 25th. Keefe, Bruyette & Woods set a $164.00 price target on Signature Bank and gave the stock a “buy” rating in a report on Monday, June 5th. Maxim Group reaffirmed a “buy” rating and issued a $175.00 price target on shares of Signature Bank in a report on Wednesday, July 19th. Finally, Deutsche Bank AG reduced their price target on Signature Bank from $178.00 to $162.00 and set a “buy” rating for the company in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Signature Bank currently has a consensus rating of “Buy” and an average price target of $162.43.
Signature Bank (NASDAQ SBNY) traded down 0.79% during midday trading on Friday, hitting $118.92. The stock had a trading volume of 1,723,013 shares. Signature Bank has a 12-month low of $113.53 and a 12-month high of $164.23. The firm has a market cap of $6.43 billion, a P/E ratio of 19.05 and a beta of 0.97. The stock has a 50-day moving average price of $129.78 and a 200 day moving average price of $140.44.
Signature Bank (NASDAQ:SBNY) last posted its earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $324.44 million. During the same quarter in the previous year, the business posted $1.90 earnings per share. On average, equities analysts anticipate that Signature Bank will post $7.22 earnings per share for the current fiscal year.
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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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