Signature Bank (NASDAQ:SBNY) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.
Other research analysts also recently issued research reports about the company. Raymond James upgraded Signature Bank from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $142.00 to $143.00 in a research note on Monday, July 8th. Wells Fargo & Co reduced their price objective on Signature Bank from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. set a $138.00 price target on Signature Bank and gave the stock a “buy” rating in a research note on Friday, September 6th. Morgan Stanley cut their price target on Signature Bank from $146.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, BidaskClub upgraded Signature Bank from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $143.22.
Shares of NASDAQ:SBNY opened at $117.48 on Thursday. The company has a market capitalization of $6.36 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 0.99 and a beta of 1.36. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.00 and a quick ratio of 0.99. The business has a fifty day moving average price of $118.12 and a two-hundred day moving average price of $122.23. Signature Bank has a 1 year low of $98.54 and a 1 year high of $137.93.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.01. The firm had revenue of $334.88 million during the quarter, compared to the consensus estimate of $333.25 million. Signature Bank had a return on equity of 13.61% and a net margin of 32.59%. During the same quarter in the prior year, the company earned $2.83 EPS. Sell-side analysts anticipate that Signature Bank will post 10.87 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Cerebellum GP LLC lifted its holdings in Signature Bank by 37.9% during the 3rd quarter. Cerebellum GP LLC now owns 3,876 shares of the bank’s stock worth $462,000 after purchasing an additional 1,066 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Signature Bank by 63.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,737 shares of the bank’s stock worth $1,160,000 after purchasing an additional 3,776 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Signature Bank by 3.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 15,637 shares of the bank’s stock worth $1,890,000 after purchasing an additional 572 shares in the last quarter. Atria Investments LLC lifted its holdings in Signature Bank by 68.5% during the 2nd quarter. Atria Investments LLC now owns 4,481 shares of the bank’s stock worth $532,000 after purchasing an additional 1,822 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Signature Bank by 6.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 24,986 shares of the bank’s stock worth $3,019,000 after purchasing an additional 1,544 shares in the last quarter. Institutional investors own 92.71% 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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