Signature Bank (NASDAQ:SBNY) had its price objective lifted by analysts at Maxim Group from $175.00 to $200.00 in a report released on Friday. The brokerage currently has a “buy” rating on the bank’s stock. Maxim Group’s target price suggests a potential upside of 30.34% from the company’s previous close.
Several other equities analysts have also issued reports on SBNY. Stephens restated a “buy” rating on shares of Signature Bank in a research report on Friday. Piper Jaffray Companies restated a “hold” rating and set a $149.00 price target on shares of Signature Bank in a research report on Tuesday, January 9th. FIG Partners restated an “outperform” rating and set a $150.00 price target on shares of Signature Bank in a research report on Monday, October 2nd. Barclays set a $145.00 price target on Signature Bank and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $142.00 price target on shares of Signature Bank in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $156.75.
Signature Bank (NASDAQ SBNY) opened at $153.44 on Friday. The firm has a market capitalization of $7,947.77, a PE ratio of 21.49, a P/E/G ratio of 1.33 and a beta of 1.02. The company has a current ratio of 0.92, a quick ratio of 0.91 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.
Hedge funds have recently modified their holdings of the company. YorkBridge Wealth Partners LLC grew its position in shares of Signature Bank by 6.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after buying an additional 41 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Signature Bank in the 3rd quarter worth approximately $115,000. Zions Bancorporation bought a new stake in shares of Signature Bank in the 3rd quarter worth approximately $152,000. Rockefeller Financial Services Inc. bought a new stake in shares of Signature Bank in the 3rd quarter worth approximately $192,000. Finally, BB&T Investment Services Inc. bought a new stake in shares of Signature Bank in the 2nd quarter worth approximately $226,000. Hedge funds and other institutional investors own 96.30% of the company’s stock.
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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