Signature Bank (SBNY) Now Covered by UBS

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.

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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.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, January 18th. The bank reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.20. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. The business had revenue of $328.27 million for the quarter, compared to analysts’ expectations of $321.86 million. During the same period last year, the business earned $2.11 EPS. equities research analysts anticipate that Signature Bank will post 11.13 earnings per share for the current year.

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.

Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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