Signature Bank (NASDAQ: SBNY – Get a rating) had its price target reduced by Morgan Stanley stock analysts from $508.00 to $428.00 in a research report released on Monday, Fly reports. Morgan Stanley’s target price would suggest a potential upside of 38.73% from the company’s current price.

A number of other equity analysts have also recently commented on SBNY. Janney Montgomery Scott moved Signature Bank shares from a “neutral” rating to a “buy” rating in a Wednesday, January 19 report. Goldman Sachs Group raised its price target on Signature Bank shares from $387.00 to $429.00 and gave the company a “buy” rating in a research report on Wednesday, January 19. Compass Point reiterated a “buy” rating on Signature Bank shares in a Tuesday, January 18 research report. Wells Fargo & Company raised its price target on Signature Bank shares from $400.00 to $435.00 and gave the stock an “overweight” rating in a Wednesday, Jan. 19 research report. Finally, Stephens raised his price target on Signature Bank shares from $380.00 to $415.00 and gave the stock an “overweight” rating in a Wednesday, Jan. 19 research report. Fourteen research analysts gave the stock a buy rating and one gave the company’s stock a strong buy rating. According to data from MarketBeat, Signature Bank currently has a consensus rating of “Buy” and a consensus target price of $379.62.

The NASDAQ SBNY opened at $308.51 on Monday. The company has a 50-day simple moving average of $320.56 and a 200-day simple moving average of $313.34. The company has a debt ratio of 0.41, a quick ratio of 0.88 and a current ratio of 0.88. Signature Bank has a one-year low of $207.86 and a one-year high of $374.76. The company has a market capitalization of $18.71 billion, a price/earnings ratio of 20.53, a PEG ratio of 1.66 and a beta of 1.81.

Signature Bank (NASDAQ: SBNY – Get a rating) last reported results on Tuesday, January 18. The bank reported earnings per share of $4.34 for the quarter, beating Thomson Reuters consensus estimate of $3.97 by $0.37. The company posted revenue of $569.38 million for the quarter, versus $548.69 million expected by analysts. Signature Bank had a net margin of 39.74% and a return on equity of 12.66%. In the same quarter last year, the company earned earnings per share of $3.26. Equity analysts predict Signature Bank will post an EPS of 19.57 for the current fiscal year.

A number of hedge funds have recently changed their positions in SBNY. IFP Advisors Inc increased its stake in Signature Bank by 920.0% in the 3rd quarter. IFP Advisors Inc now owns 102 shares of the bank valued at $28,000 after buying 92 more shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Signature Bank shares by 63.5% during Q3. Parkside Financial Bank & Trust now owns 139 shares of the bank valued at $38,000 after acquiring 54 additional shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Signature Bank shares by 103.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 161 shares of the bank valued at $52,000 after acquiring 82 more shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in Signature Bank shares during Q3 worth approximately $53,000. Finally, Trust Co. of Vermont acquired a new position in Signature Bank stock during Q4 valued at approximately $65,000. 93.77% of the shares are held by hedge funds and other institutional investors.

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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