Signature Bank (SBNY) Stock Rating Upgraded by ValuEngine

Signature Bank (NASDAQ:SBNY) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Thursday.

A number of other analysts have also issued reports on SBNY. BidaskClub raised Signature Bank from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 20th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $150.00 price target on shares of Signature Bank in a research note on Friday, July 20th. JPMorgan Chase & Co. downgraded Signature Bank from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $150.00 to $130.00 in a research note on Friday, July 20th. BMO Capital Markets downgraded Signature Bank from an “outperform” rating to a “market perform” rating and set a $171.00 price target for the company. in a research note on Friday, July 20th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $145.00 price target on shares of Signature Bank in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $145.00.

Shares of NASDAQ SBNY opened at $112.80 on Thursday. Signature Bank has a 1 year low of $106.39 and a 1 year high of $161.92. The stock has a market cap of $6.19 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 0.95 and a beta of 1.02. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 0.98.

Signature Bank (NASDAQ:SBNY) last announced its earnings results on Thursday, October 18th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.01. Signature Bank had a return on equity of 13.84% and a net margin of 26.76%. The business had revenue of $329.34 million for the quarter, compared to analyst estimates of $331.77 million. During the same period in the previous year, the company earned $2.29 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Signature Bank will post 11.06 earnings per share for the current year.

A number of large investors have recently bought and sold shares of SBNY. Millennium Management LLC boosted its stake in Signature Bank by 300.2% in the second quarter. Millennium Management LLC now owns 843,815 shares of the bank’s stock valued at $107,907,000 after acquiring an additional 632,944 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Signature Bank in the second quarter valued at approximately $43,307,000. Renaissance Technologies LLC boosted its stake in Signature Bank by 289.1% in the second quarter. Renaissance Technologies LLC now owns 255,174 shares of the bank’s stock valued at $32,632,000 after acquiring an additional 189,600 shares during the period. FMR LLC boosted its stake in Signature Bank by 6.1% in the second quarter. FMR LLC now owns 2,075,478 shares of the bank’s stock valued at $265,413,000 after acquiring an additional 119,540 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in Signature Bank by 26.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 569,131 shares of the bank’s stock valued at $72,780,000 after acquiring an additional 118,270 shares during the period. Institutional investors and hedge funds own 95.73% 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.

See Also: What is the Rule of 72?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.

Leave a Reply