Signature Bank (NASDAQ:SBNY)’s stock price reached a new 52-week high on Thursday . The company traded as high as $138.19 and last traded at $137.95, with a volume of 27312 shares trading hands. The stock had previously closed at $136.00.
SBNY has been the topic of a number of analyst reports. ValuEngine raised Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Monday, November 25th. BidaskClub upgraded shares of Signature Bank from a “hold” rating to a “buy” rating in a report on Friday, December 13th. Morgan Stanley raised their target price on shares of Signature Bank from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Stephens lifted their target price on shares of Signature Bank from $140.00 to $144.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Finally, Hovde Group upgraded shares of Signature Bank from a “market perform” rating to an “outperform” rating and set a $140.00 price target on the stock in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $138.89.
The company has a market cap of $7.48 billion, a PE ratio of 12.48, a PEG ratio of 1.14 and a beta of 1.38. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50 day simple moving average of $131.62 and a two-hundred day simple moving average of $123.70.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.05. Signature Bank had a net margin of 31.37% and a return on equity of 13.09%. The business had revenue of $334.00 million during the quarter, compared to analyst estimates of $339.14 million. During the same period in the prior year, the firm earned $2.84 earnings per share. As a group, analysts expect that Signature Bank will post 10.82 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Pinebridge Investments L.P. purchased a new position in Signature Bank in the second quarter valued at about $73,000. Commonwealth Bank of Australia grew its position in Signature Bank by 21.9% in the second quarter. Commonwealth Bank of Australia now owns 728 shares of the bank’s stock worth $87,000 after acquiring an additional 131 shares in the last quarter. Meeder Asset Management Inc. grew its position in Signature Bank by 174.1% in the third quarter. Meeder Asset Management Inc. now owns 1,313 shares of the bank’s stock worth $157,000 after acquiring an additional 834 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Signature Bank by 12.9% during the 2nd quarter. MML Investors Services LLC now owns 1,771 shares of the bank’s stock worth $214,000 after purchasing an additional 202 shares during the last quarter. Finally, Signition LP bought a new position in shares of Signature Bank during the 3rd quarter valued at $223,000. Institutional investors own 90.91% of the company’s stock.
Signature Bank Company Profile (NASDAQ:SBNY)
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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