Analysts Set Signature Bank (NASDAQ:SBNY) Target Price at $145.75

Shares of Signature Bank (NASDAQ:SBNY) have received a consensus recommendation of “Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $145.75.

A number of analysts have recently commented on SBNY shares. BidaskClub raised shares of YRC Worldwide from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Morgan Stanley raised shares of Dongfeng Motor Group from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 1st. ValuEngine raised shares of Vermillion from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and set a $124.00 price target on shares of New Relic in a research report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Realogy from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th.

Shares of NASDAQ SBNY traded up $1.09 during trading on Friday, hitting $123.87. 409,410 shares of the company traded hands, compared to its average volume of 381,331. The stock has a 50-day moving average of $120.09. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.99 and a quick ratio of 0.99. Signature Bank has a 1 year low of $98.54 and a 1 year high of $137.93. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 1.04 and a beta of 1.36.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $2.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.01. The business had revenue of $334.88 million during the quarter, compared to the consensus estimate of $333.25 million. Signature Bank had a net margin of 32.59% and a return on equity of 13.81%. During the same quarter in the prior year, the firm earned $2.83 EPS. On average, research analysts predict that Signature Bank will post 11.03 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Somerset Trust Co lifted its stake in Signature Bank by 153.6% during the 1st quarter. Somerset Trust Co now owns 213 shares of the bank’s stock valued at $27,000 after acquiring an additional 129 shares in the last quarter. Pearl River Capital LLC bought a new stake in shares of Signature Bank during the 1st quarter worth $44,000. Machina Capital S.A.S. raised its stake in Signature Bank by 362.6% in the 2nd quarter. Machina Capital S.A.S. now owns 458 shares of the bank’s stock valued at $55,000 after acquiring an additional 359 shares during the period. Fort L.P. bought a new stake in Signature Bank in the 4th quarter valued at about $60,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Signature Bank during the 1st quarter valued at about $81,000. Institutional investors and hedge funds own 92.13% 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.

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Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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