Signature Bank (SBNY) Lowered to Sell at BidaskClub

BidaskClub cut shares of Signature Bank (NASDAQ:SBNY) from a hold rating to a sell rating in a report published on Saturday.

Several other research analysts have also issued reports on the company. BMO Capital Markets reissued a buy rating and issued a $163.00 target price on shares of Signature Bank in a research report on Wednesday, December 20th. Stephens reissued a buy rating on shares of Signature Bank in a research report on Friday, January 19th. Keefe, Bruyette & Woods reissued a buy rating and issued a $181.00 target price on shares of Signature Bank in a research report on Tuesday, February 27th. Piper Jaffray reissued a hold rating and issued a $149.00 target price on shares of Signature Bank in a research report on Tuesday, January 9th. Finally, UBS assumed coverage on Signature Bank in a research report on Wednesday, March 21st. They issued a neutral rating and a $163.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Signature Bank has a consensus rating of Buy and a consensus price target of $159.75.

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SBNY opened at $136.02 on Friday. The company has a market cap of $7,478.24, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.13 and a beta of 1.10. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.96 and a quick ratio of 0.95. Signature Bank has a one year low of $116.68 and a one year high of $161.92.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.20. The business had revenue of $328.27 million during the quarter, compared to analyst estimates of $321.86 million. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. During the same quarter in the prior year, the company posted $2.11 EPS. equities research analysts forecast that Signature Bank will post 11.15 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of SBNY. Steward Partners Investment Advisory LLC purchased a new stake in shares of Signature Bank in the 3rd quarter worth approximately $115,000. Zions Bancorporation purchased a new stake in shares of Signature Bank in the 3rd quarter worth approximately $152,000. WINTON GROUP Ltd purchased a new stake in shares of Signature Bank in the 3rd quarter worth approximately $210,000. IFG Advisory LLC purchased a new stake in shares of Signature Bank in the 4th quarter worth approximately $216,000. Finally, Calton & Associates Inc. purchased a new stake in shares of Signature Bank in the 4th quarter worth approximately $222,000. Institutional investors own 94.90% of the company’s stock.

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Signature Bank Company Profile

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.

Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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