Signature Bank (NASDAQ:SBNY) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Tuesday.
SBNY has been the subject of several other research reports. BidaskClub upgraded shares of Signature Bank from a “hold” rating to a “buy” rating in a report on Wednesday, January 30th. Deutsche Bank upped their price target on shares of Signature Bank to $137.00 and gave the company a “buy” rating in a report on Friday, January 18th. TheStreet upgraded shares of Signature Bank from a “c” rating to a “b-” rating in a report on Monday, January 28th. Raymond James set a $135.00 price target on shares of Signature Bank and gave the company a “buy” rating in a report on Friday, January 18th. Finally, Wedbush upgraded shares of Signature Bank from a “neutral” rating to an “outperform” rating and set a $102.56 price target for the company in a report on Friday, December 21st. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $139.90.
Shares of NASDAQ SBNY opened at $134.76 on Tuesday. The company has a market cap of $7.27 billion, a P/E ratio of 11.95, a PEG ratio of 1.08 and a beta of 1.37. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 1.19. Signature Bank has a 52-week low of $98.54 and a 52-week high of $158.80.
Hedge funds have recently made changes to their positions in the company. Fort L.P. bought a new stake in shares of Signature Bank in the fourth quarter worth $60,000. Enlightenment Research LLC bought a new stake in shares of Signature Bank in the fourth quarter worth $93,000. ETF Managers Group LLC lifted its position 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 worth $94,000 after purchasing an additional 123 shares in the last quarter. Paradigm Asset Management Co. LLC bought a new stake in shares of Signature Bank in the third quarter worth $115,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position 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 worth $118,000 after purchasing an additional 118 shares in the last quarter. 96.38% of the stock is currently owned by institutional investors and hedge funds.
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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