Several other equities analysts have also weighed in on the company. Wells Fargo reissued an outperform rating and issued a $150.00 target price (up previously from $137.00) on shares of Signature Bank in a research note on Tuesday, January 9th. BMO Capital Markets raised their price target on Signature Bank to $192.00 and gave the stock an outperform rating in a research report on Friday, January 19th. Barclays raised their price target on Signature Bank from $140.00 to $151.00 and gave the stock an overweight rating in a research report on Tuesday, January 2nd. Stephens reaffirmed a buy rating on shares of Signature Bank in a research report on Friday, January 19th. Finally, Maxim Group raised their price target on Signature Bank from $175.00 to $200.00 and gave the stock a buy rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $158.07.
NASDAQ:SBNY opened at $128.49 on Friday. Signature Bank has a 1-year low of $116.68 and a 1-year high of $161.92. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $7,108.79, a price-to-earnings ratio of 14.42, a P/E/G ratio of 1.08 and a beta of 1.10.
Signature Bank (NASDAQ:SBNY) last released its earnings results on Thursday, April 19th. The bank reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.02. Signature Bank had a return on equity of 13.29% and a net margin of 18.57%. The firm had revenue of $325.35 million for the quarter, compared to analyst estimates of $328.88 million. During the same quarter in the prior year, the firm posted $2.48 earnings per share. research analysts anticipate that Signature Bank will post 11.16 EPS for the current year.
Several large investors have recently bought and sold shares of SBNY. Dimensional Fund Advisors LP grew its holdings in shares of Signature Bank by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 285,641 shares of the bank’s stock worth $36,571,000 after buying an additional 3,796 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Signature Bank by 9.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 24,000 shares of the bank’s stock worth $3,294,000 after buying an additional 2,000 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Signature Bank by 70.2% during the fourth quarter. Bank of Montreal Can now owns 219,237 shares of the bank’s stock worth $30,092,000 after buying an additional 90,388 shares in the last quarter. CrestPoint Capital Management LLC grew its holdings in shares of Signature Bank by 137.5% during the fourth quarter. CrestPoint Capital Management LLC now owns 5,700 shares of the bank’s stock worth $782,000 after buying an additional 3,300 shares in the last quarter. Finally, Gateway Investment Advisers LLC grew its holdings in shares of Signature Bank by 3.5% during the fourth quarter. Gateway Investment Advisers LLC now owns 83,000 shares of the bank’s stock worth $11,393,000 after buying an additional 2,773 shares in the last quarter. Institutional investors and hedge funds own 94.62% of the company’s stock.
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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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