Signature Bank (SBNY) Stock Rating Reaffirmed by Piper Jaffray Companies

Signature Bank (NASDAQ:SBNY)‘s stock had its “hold” rating reissued by analysts at Piper Jaffray Companies in a research note issued on Tuesday. They currently have a $149.00 target price on the bank’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 7.11% from the stock’s previous close.

Several other equities research analysts also recently weighed in on SBNY. Barclays increased their price target on Signature Bank from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. FIG Partners reaffirmed an “outperform” rating and set a $150.00 price target on shares of Signature Bank in a report on Monday, October 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $142.00 price target on shares of Signature Bank in a report on Tuesday, October 3rd. Wedbush downgraded Signature Bank from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $157.00 to $126.00 in a report on Wednesday, September 20th. Finally, Bank of America reaffirmed a “buy” rating and set a $165.00 price target (down from $175.00) on shares of Signature Bank in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $155.53.

Shares of Signature Bank (NASDAQ:SBNY) opened at $139.11 on Tuesday. The firm has a market capitalization of $7,600.00, a P/E ratio of 19.51, a PEG ratio of 1.36 and a beta of 1.02. Signature Bank has a fifty-two week low of $116.68 and a fifty-two week high of $164.23. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.71.

Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.10. The business had revenue of $316.94 million during the quarter, compared to the consensus estimate of $322.22 million. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. During the same period in the prior year, the company earned $2.11 earnings per share. sell-side analysts predict that Signature Bank will post 7.26 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in SBNY. Parnassus Investments CA acquired a new stake in Signature Bank in the third quarter valued at $167,732,000. Harding Loevner LP lifted its holdings in Signature Bank by 138.0% in the third quarter. Harding Loevner LP now owns 1,802,550 shares of the bank’s stock valued at $94,865,000 after acquiring an additional 1,045,206 shares during the period. Nordea Investment Management AB lifted its holdings in Signature Bank by 265.2% in the second quarter. Nordea Investment Management AB now owns 982,154 shares of the bank’s stock valued at $140,969,000 after acquiring an additional 713,190 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Signature Bank by 204.4% in the third quarter. Wedge Capital Management L L P NC now owns 791,794 shares of the bank’s stock valued at $101,381,000 after acquiring an additional 531,709 shares during the period. Finally, Koch Industries Inc. lifted its holdings in Signature Bank by 34,799.2% in the second quarter. Koch Industries Inc. now owns 480,562 shares of the bank’s stock valued at $477,000 after acquiring an additional 479,185 shares during the period. 96.30% of the stock is owned by 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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