Barclays PLC upgraded shares of Signature Bank (NASDAQ:SBNY) from an equal weight rating to an overweight rating in a research report report published on Wednesday. They currently have $139.00 target price on the stock, down from their prior target price of $150.00.
Other research analysts also recently issued reports about the company. Jefferies Group reaffirmed a buy rating and set a $155.00 target price on shares of Signature Bank in a report on Thursday, July 7th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Signature Bank in a report on Saturday, July 9th. Zacks Investment Research raised Signature Bank from a sell rating to a hold rating in a report on Friday, September 16th. Piper Jaffray Cos. downgraded Signature Bank from an overweight rating to a neutral rating and cut their target price for the stock from $151.00 to $146.00 in a report on Tuesday, May 31st. Finally, FBR & Co cut their target price on Signature Bank from $167.00 to $155.00 and set an outperform rating on the stock in a report on Thursday, July 21st. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $156.75.
Signature Bank (NASDAQ:SBNY) opened at 117.37 on Wednesday. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 15.19 and a beta of 0.91. The company’s 50-day moving average price is $117.90 and its 200-day moving average price is $127.69. Signature Bank has a 12-month low of $114.01 and a 12-month high of $163.15.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Wednesday, July 20th. The company reported $1.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.97 by $0.07. Signature Bank had a net margin of 32.08% and a return on equity of 12.89%. During the same period last year, the company posted $1.77 EPS. Equities analysts expect that Signature Bank will post $8.00 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. CI Global Investments Inc. increased its position in shares of Signature Bank by 331.5% in the second quarter. CI Global Investments Inc. now owns 1,186,987 shares of the company’s stock worth $148,278,000 after buying an additional 911,927 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt increased its position in shares of Signature Bank by 23.4% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,166,200 shares of the company’s stock worth $270,537,000 after buying an additional 411,200 shares during the last quarter. Conatus Capital Management LP increased its position in shares of Signature Bank by 65.1% in the second quarter. Conatus Capital Management LP now owns 840,825 shares of the company’s stock worth $105,036,000 after buying an additional 331,645 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Signature Bank by 14.5% in the second quarter. William Blair Investment Management LLC now owns 1,850,869 shares of the company’s stock worth $231,211,000 after buying an additional 233,889 shares during the last quarter. Finally, Capital Growth Management LP increased its position in shares of Signature Bank by 225.0% in the first quarter. Capital Growth Management LP now owns 325,000 shares of the company’s stock worth $44,239,000 after buying an additional 225,000 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.
Signature Bank Company Profile
Signature Bank (the Bank) is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area, including those in Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island and Connecticut. The Bank offers a range of business and personal banking products and services.
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