Signature Bank (NASDAQ:SBNY – Get Rating) has received a consensus “moderate buy” recommendation from the sixteen rating companies that currently cover the company, Marketbeat Ratings reports. One equity research analyst gave the stock a hold rating and ten gave the company a buy rating. The 12-month average price target among brokers who have rated the stock over the past year is $299.83.
SBNY has been the subject of several research reports. StockNews.com upgraded Signature Bank shares from a “sell” rating to a “hold” rating in a Thursday, July 28 research note. JPMorgan Chase & Co. lowered its price target on Signature Bank shares from $460.00 to $300.00 and set an “overweight” rating for the company in a Friday, July 1 report. TheStreet upgraded Signature Bank’s shares from a ‘b’ rating to a ‘c+’ rating in a Wednesday, July 13 research report. Wedbush cut its price target on Signature Bank shares from $415.00 to $375.00 and set a “buy” rating for the company in a Wednesday, April 20 report. Finally, Morgan Stanley lowered its price target on Signature Bank from $262.00 to $247.00 and set an “overweight” rating for the company in a Wednesday, July 20 research note.
Signature Bank up 5.4%
SBNY opened at $197.14 on Thursday. Signature Bank has a 1-year minimum of $165.36 and a 1-year maximum of $374.76. The company has a 50-day moving average price of $189.02 and a two-hundred-day moving average price of $248.79. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt ratio of 0.27. The stock has a market capitalization of $11.95 billion, a PE ratio of 10.50, a PEG ratio of 0.90 and a beta of 1.74.
Signature Bank (NASDAQ:SBNY – Get Rating) last released its quarterly results on Tuesday, July 19. The bank reported earnings per share of $5.26 for the quarter, beating consensus analyst estimates of $5.05 by $0.21. Signature Bank had a net margin of 43.86% and a return on equity of 15.02%. In the same period a year earlier, the company had earned earnings per share of $3.57. As a group, stock analysts expect Signature Bank to post earnings per share of 21.81 for the current fiscal year.
Signature Bank Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 12. Shareholders of record on Friday, July 29 will receive a dividend of $0.56 per share. This represents a dividend of $2.24 on an annualized basis and a yield of 1.14%. The ex-dividend date is Thursday July 28. Signature Bank’s dividend payout ratio is currently 11.93%.
Signature Bank Institutional Trading
Institutional investors and hedge funds have recently increased or reduced their stake in the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in Signature Bank during Q1 valued at approximately $29,000. JCSD Capital LLC acquired a new stake in Signature Bank stock during Q1 worth approximately $29,000. Blume Capital Management Inc. acquired a new stake in Signature Bank stock during Q1 worth approximately $29,000. Quent Capital LLC increased its position in Signature Bank shares by 152.5% during the 1st quarter. Quent Capital LLC now owns 101 shares of the bank worth $30,000 after purchasing 61 additional shares during the period. Finally, Cambridge Trust Co. increased its position in Signature Bank shares by 1,018.2% during the first quarter. Cambridge Trust Co. now owns 123 shares of the bank worth $36,000 after buying an additional 112 shares during the period. Institutional investors and hedge funds hold 96.17% of the company’s shares.
Corporate Profile Signature Bank
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Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The Company offers various loan products including commercial and industrial loans, real estate loans and letters of credit.
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