UBS assumed coverage on shares of Signature Bank (NASDAQ:SBNY) in a research note published on Wednesday morning, www.benzinga.com reports. The firm issued a neutral rating and a $163.00 price objective on the bank’s stock.
Other equities analysts have also recently issued reports about the company. TheStreet upgraded Signature Bank from a c+ rating to a b rating in a research note on Wednesday, November 29th. Maxim Group raised their price objective on Signature Bank from $175.00 to $200.00 and gave the company a buy rating in a research note on Friday, January 19th. Stephens restated a buy rating on shares of Signature Bank in a research note on Friday, January 19th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $181.00 target price on shares of Signature Bank in a research report on Tuesday, February 27th. Finally, BMO Capital Markets reaffirmed a buy rating and set a $163.00 target price on shares of Signature Bank in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $161.12.
SBNY stock opened at $140.60 on Wednesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.95 and a current ratio of 0.96. Signature Bank has a 52 week low of $116.68 and a 52 week high of $161.92. The firm has a market capitalization of $7,730.05, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.11.
Institutional investors have recently made changes to their positions in the company. Harding Loevner LP increased its holdings in Signature Bank by 138.0% in the 3rd quarter. Harding Loevner LP now owns 1,802,550 shares of the bank’s stock worth $94,865,000 after acquiring an additional 1,045,206 shares during the last quarter. Parnassus Investments CA increased its holdings in Signature Bank by 22.9% in the 4th quarter. Parnassus Investments CA now owns 1,610,000 shares of the bank’s stock worth $220,989,000 after acquiring an additional 300,000 shares during the last quarter. Nordea Investment Management AB increased its holdings in Signature Bank by 44.6% in the 3rd quarter. Nordea Investment Management AB now owns 1,419,824 shares of the bank’s stock worth $181,794,000 after acquiring an additional 437,670 shares during the last quarter. CI Global Investments Inc. increased its holdings in Signature Bank by 176.8% in the 4th quarter. CI Global Investments Inc. now owns 920,249 shares of the bank’s stock worth $126,313,000 after acquiring an additional 587,749 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in Signature Bank by 0.6% in the 4th quarter. Wedge Capital Management L L P NC now owns 796,843 shares of the bank’s stock worth $109,375,000 after acquiring an additional 5,049 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.
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About Signature Bank
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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