Signature Bank (SBNY) Price Target Raised to $150.00 at Wells Fargo & Co

Signature Bank (NASDAQ:SBNY) had its price target lifted by equities research analysts at Wells Fargo & Co from $135.00 to $150.00 in a research report issued on Friday. The firm currently has an “outperform” rating on the bank’s stock. Wells Fargo & Co‘s price target points to a potential upside of 11.23% from the stock’s current price.

SBNY has been the topic of several other reports. Deutsche Bank lifted their target price on shares of Signature Bank to $137.00 and gave the stock a “buy” rating in a research report on Friday, January 18th. Raymond James set a $135.00 target price on shares of Signature Bank and gave the stock a “buy” rating in a research report on Friday, January 18th. TheStreet upgraded shares of Signature Bank from a “c” rating to a “b-” rating in a research report on Monday, January 28th. Wedbush upgraded shares of Signature Bank from a “neutral” rating to an “outperform” rating and set a $102.56 target price on the stock in a research report on Friday, December 21st. Finally, BidaskClub upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. Signature Bank currently has an average rating of “Buy” and a consensus target price of $141.33.

Shares of Signature Bank stock traded up $0.91 during midday trading on Friday, hitting $134.85. 147,216 shares of the company traded hands, compared to its average volume of 437,042. The firm has a market capitalization of $7.33 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.09 and a beta of 1.38. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 1.19. Signature Bank has a 12 month low of $98.54 and a 12 month high of $157.13.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Thursday, January 17th. The bank reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.15. The company had revenue of $340.95 million for the quarter, compared to analyst estimates of $331.47 million. Signature Bank had a net margin of 29.17% and a return on equity of 14.70%. During the same period in the previous year, the firm posted $2.43 EPS. As a group, research analysts anticipate that Signature Bank will post 11.42 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. lifted its position in shares of Signature Bank by 7.0% during the 4th quarter. American Century Companies Inc. now owns 270,811 shares of the bank’s stock valued at $27,842,000 after acquiring an additional 17,642 shares during the period. Geode Capital Management LLC lifted its position in shares of Signature Bank by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 555,014 shares of the bank’s stock valued at $57,025,000 after acquiring an additional 26,684 shares during the period. Norges Bank acquired a new position in shares of Signature Bank during the 4th quarter valued at $40,558,000. FMR LLC lifted its position in shares of Signature Bank by 14.9% during the 4th quarter. FMR LLC now owns 2,463,224 shares of the bank’s stock valued at $253,244,000 after acquiring an additional 319,803 shares during the period. Finally, Global Retirement Partners LLC lifted its position in shares of Signature Bank by 3,283.3% during the 4th quarter. Global Retirement Partners LLC now owns 2,639 shares of the bank’s stock valued at $271,000 after acquiring an additional 2,561 shares during the period. Hedge funds and other institutional investors own 92.96% of the company’s stock.

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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Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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