Signature Bank (SBNY) Upgraded by ValuEngine to “Hold”

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Signature Bank (NASDAQ:SBNY) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of Signature Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, December 18th. BMO Capital Markets dropped their price objective on shares of Signature Bank from $138.00 to $132.00 and set a “market perform” rating on the stock in a research report on Friday, October 19th. UBS Group raised shares of Signature Bank from a “neutral” rating to a “buy” rating and increased their price objective for the company from $122.00 to $138.00 in a research report on Monday, November 5th. Hovde Group lowered shares of Signature Bank from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 2nd. Finally, Maxim Group reissued a “buy” rating and issued a $190.00 price objective on shares of Signature Bank in a research report on Thursday, October 18th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $139.90.

Shares of SBNY opened at $134.76 on Tuesday. The stock has a market capitalization of $7.27 billion, a PE ratio of 11.95, a P/E/G ratio of 1.08 and a beta of 1.37. Signature Bank has a fifty-two week low of $98.54 and a fifty-two week high of $158.80. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.97 and a current ratio of 0.98.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, January 17th. The bank reported $2.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.79 by $0.15. The company had revenue of $340.95 million for the quarter, compared to analyst estimates of $331.47 million. Signature Bank had a net margin of 29.17% and a return on equity of 14.70%. During the same period in the prior year, the firm earned $2.43 earnings per share. Equities research analysts anticipate that Signature Bank will post 11.43 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. MAI Capital Management grew its stake in shares of Signature Bank by 3.4% in the fourth quarter. MAI Capital Management now owns 2,661 shares of the bank’s stock valued at $274,000 after acquiring an additional 88 shares in the last quarter. Texas Permanent School Fund grew its stake in shares of Signature Bank by 0.3% in the fourth quarter. Texas Permanent School Fund now owns 34,933 shares of the bank’s stock valued at $3,591,000 after acquiring an additional 104 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Signature Bank by 3.6% in the fourth quarter. Advisor Group Inc. now owns 3,329 shares of the bank’s stock valued at $342,000 after acquiring an additional 115 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Signature Bank by 11.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,145 shares of the bank’s stock valued at $118,000 after acquiring an additional 118 shares in the last quarter. Finally, ETF Managers Group LLC grew its stake in shares of Signature Bank by 15.5% in the fourth quarter. ETF Managers Group LLC now owns 914 shares of the bank’s stock valued at $94,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 96.38% of the company’s stock.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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