Signature Bank Stock (NASDAQ: SBNY – Get a rating) have been given a consensus “moderate buy” rating by the fifteen brokerages that currently cover the business, MarketBeat reports. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The 12-month average price target among brokers who have covered the stock over the past year is $347.31.
A number of equity research analysts have recently released reports on the stock. UBS Group cut its price target on Signature Bank shares from $472.00 to $309.00 and set a “buy” rating for the company in a Monday, June 6 research note. StockNews.com raised Signature Bank shares from a “sell” rating to a “hold” rating in a Wednesday, June 15 report. Raymond James cut his price target on Signature Bank shares from $400.00 to $350.00 in a Monday, May 16 research note. Compass Point cut its price target on Signature Bank shares from $350.00 to $300.00 and set a “buy” rating for the company in a Friday, June 10 research note. Finally, Morgan Stanley cut its price target on Signature Bank shares from $508.00 to $428.00 and set an “overweight” rating on the stock in a Monday, March 28 research report.
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A number of institutional investors have recently increased or reduced their stake in SBNY. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in Signature Bank stock during Q1 worth approximately $29,000. JCSD Capital LLC acquired a new position in Signature Bank in Q1 worth $29,000. Blume Capital Management Inc. acquired a new position in Signature Bank in Q1 worth $29,000. Quent Capital LLC increased its stake in Signature Bank by 152.5% in Q1. Quent Capital LLC now owns 101 shares of the bank valued at $30,000 after buying 61 additional shares in the last quarter. Finally, Cambridge Trust Co. increased its stake in Signature Bank by 1,018.2% in the 1st quarter. Cambridge Trust Co. now owns 123 shares of the bank valued at $36,000 after buying 112 more shares in the last quarter. Institutional investors and hedge funds own 96.17% of the company’s shares.
The NASDAQ SBNY opened Wednesday at $175.55. The company’s 50-day moving average is $220.69 and its 200-day moving average is $284.40. Signature Bank has a 12-month low of $165.36 and a 12-month high of $374.76. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt ratio of 0.37. The company has a market cap of $10.64 billion, a P/E ratio of 10.27, a price-to-earnings growth ratio of 0.82, and a beta of 1.78.
Signature Bank (NASDAQ: SBNY- Get a rating) last reported results on Tuesday, April 19. The bank reported earnings per share of $5.30 for the quarter, beating analyst consensus estimates of $4.31 by $0.99. Signature Bank had a net margin of 43.29% and a return on equity of 13.97%. The company posted revenue of $607.96 million for the quarter, versus analyst estimates of $608.85 million. In the same quarter a year earlier, the company posted EPS of $3.24. Equity analysts expect Signature Bank to post EPS of 22.15 for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 13. Investors of record on Friday, April 29 received a dividend of $0.56. The ex-dividend date was Thursday, April 28. This represents a dividend of $2.24 on an annualized basis and a yield of 1.28%. Signature Bank’s dividend payout ratio is currently 13.11%.
About Signature Bank (Get a rating)
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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