Signature Bank (SBNY) Given Average Rating of “Buy” by Brokerages

Shares of Signature Bank (NASDAQ:SBNY) have earned an average rating of “Buy” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $146.92.

Several equities research analysts recently issued reports on the stock. BidaskClub lowered shares of Signature Bank from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. raised shares of Signature Bank from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $133.00 to $150.00 in a report on Thursday. Deutsche Bank increased their target price on shares of Signature Bank to $137.00 and gave the stock a “buy” rating in a report on Friday, January 18th. Wedbush assumed coverage on shares of Signature Bank in a report on Tuesday, March 26th. They issued a “focus list” rating for the company. Finally, Wells Fargo & Co increased their target price on shares of Signature Bank from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, March 15th.

Signature Bank stock traded up $1.26 during midday trading on Thursday, hitting $130.04. The stock had a trading volume of 1,246 shares, compared to its average volume of 380,959. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.06 and a beta of 1.36. Signature Bank has a 52-week low of $98.54 and a 52-week high of $141.25. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 1.19.

Signature Bank (NASDAQ:SBNY) last released its earnings results on Thursday, January 17th. The bank reported $2.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.79 by $0.15. The company had revenue of $340.95 million during the quarter, compared to analyst estimates of $331.47 million. Signature Bank had a net margin of 29.17% and a return on equity of 14.70%. During the same period in the prior year, the firm posted $2.43 EPS. On average, analysts predict that Signature Bank will post 11.45 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Fort L.P. purchased a new stake in Signature Bank in the fourth quarter worth $60,000. Enlightenment Research LLC purchased a new position in shares of Signature Bank during the fourth quarter valued at $93,000. ETF Managers Group LLC boosted its holdings in Signature Bank by 15.5% in the fourth quarter. ETF Managers Group LLC now owns 914 shares of the bank’s stock worth $94,000 after acquiring an additional 123 shares in the last quarter. Paradigm Asset Management Co. LLC acquired a new stake in Signature Bank in the third quarter worth about $115,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Signature Bank by 11.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,145 shares of the bank’s stock worth $118,000 after acquiring an additional 118 shares in the last quarter. Institutional investors and hedge funds own 93.43% 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.

Recommended Story: How to interpret the current ratio

Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.