Signature Bank (SBNY) Price Target Raised to $200.00

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.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $2.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.20. 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 business posted $2.11 EPS. research analysts anticipate that Signature Bank will post 7.25 earnings per share for the current year.

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.

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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.

Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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