Wells Fargo & Co reissued their outperform rating on shares of Signature Bank (NASDAQ:SBNY) in a research report report published on Tuesday, The Fly reports. The firm currently has a $150.00 price target on the bank’s stock, up from their previous price target of $137.00.
Other analysts also recently issued research reports about the stock. Hovde Group upgraded shares of Signature Bank from an underperform rating to a market perform rating and set a $132.00 target price for the company in a report on Monday, September 11th. Barclays increased their target price on shares of Signature Bank from $140.00 to $151.00 and gave the company an overweight rating in a report on Tuesday, January 2nd. FIG Partners reiterated an outperform rating and issued a $150.00 target price on shares of Signature Bank in a report on Monday, October 2nd. JMP Securities began coverage on shares of Signature Bank in a report on Monday, November 20th. They issued an outperform rating and a $160.00 target price for the company. Finally, Bank of America reiterated a buy rating and issued a $165.00 target price (down previously from $175.00) on shares of Signature Bank in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $155.19.
Shares of Signature Bank (NASDAQ SBNY) traded up $2.90 during mid-day trading on Tuesday, hitting $147.52. 372,300 shares of the stock traded hands, compared to its average volume of 351,112. The stock has a market capitalization of $8,040.00, a P/E ratio of 20.69, a P/E/G ratio of 1.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.92. Signature Bank has a 52 week low of $116.68 and a 52 week high of $164.23.
A number of hedge funds and other institutional investors have recently bought and sold shares of SBNY. Pacad Investment Ltd. purchased a new stake in Signature Bank during the second quarter worth about $100,000. YorkBridge Wealth Partners LLC increased its holdings in Signature Bank by 6.3% during the second quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after buying an additional 41 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Signature Bank during the third quarter worth about $115,000. Zions Bancorporation purchased a new stake in Signature Bank during the third quarter worth about $152,000. Finally, Commonwealth Bank of Australia increased its holdings in Signature Bank by 5.1% during the second quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock worth $176,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 96.30% of the company’s stock.
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Signature Bank Company Profile
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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