Media coverage about Signature Bank (NASDAQ:SBNY) has been trending somewhat positive this week, Accern Sentiment reports. The research group ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Signature Bank earned a coverage optimism score of 0.18 on Accern’s scale. Accern also assigned news stories about the bank an impact score of 46.2964619198466 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Several research firms have recently issued reports on SBNY. Piper Jaffray Companies restated a “neutral” rating and set a $140.00 price objective on shares of Signature Bank in a report on Friday, October 13th. Morgan Stanley lowered Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 target price on the stock. in a research report on Monday, November 6th. FIG Partners reiterated an “outperform” rating and issued a $150.00 target price on shares of Signature Bank in a research report on Monday, October 2nd. BMO Capital Markets upgraded Signature Bank from a “market perform” rating to an “outperform” rating in a research report on Friday, October 20th. Finally, Wedbush lowered Signature Bank from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $157.00 to $126.00 in a research report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $154.80.
Shares of Signature Bank (NASDAQ SBNY) traded up $2.26 during midday trading on Tuesday, hitting $127.19. The stock had a trading volume of 571,800 shares, compared to its average volume of 487,949. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.71. Signature Bank has a 1-year low of $116.68 and a 1-year high of $164.23. The firm has a market cap of $7,050.00, a price-to-earnings ratio of 14.26, a PEG ratio of 1.60 and a beta of 1.01.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, topping the consensus estimate of $2.19 by $0.10. The company had revenue of $316.94 million for the quarter, compared to analyst estimates of $322.22 million. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. During the same quarter in the previous year, the company posted $2.11 earnings per share. sell-side analysts forecast that Signature Bank will post 7.25 earnings per share for the current 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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