Signature Bank (NASDAQ: SBNY- Get a rating) saw its target price reduced by investment analysts Compass Point from $350.00 to $300.00 in a research report released on Friday, Fly reports. Compass Point’s price target indicates a potential upside of 39.59% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock recently. JPMorgan Chase & Co. raised its price target on Signature Bank shares from $440.00 to $460.00 and gave the company an “overweight” rating in a Wednesday, April 20 report. Wells Fargo & Company lowered its price target on Signature Bank shares from $435.00 to $408.00 and set an “overweight” rating on the stock in a Wednesday, April 20 research note. Raymond James lowered his target price on Signature Bank shares from $400.00 to $350.00 in a Monday, May 16 research note. UBS Group lowered its price target on Signature Bank shares from $472.00 to $309.00 and placed a “buy” rating on the stock in a research note on Monday. To finish, StockNews.com downgraded Signature Bank shares from a “hold” rating to a “sell” rating in a research note on Tuesday. One equity research analyst gave the stock a sell rating, thirteen issued 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 an average target price of $347.31.

Signature Bank shares opened at $214.92 on Friday. The company has a market capitalization of $13.03 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.06 and a beta of 1.78. The company’s fifty-day simple moving average is $236.53 and its 200-day simple moving average is $292.71. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt ratio of 0.37. Signature Bank has a 1-year minimum of $179.05 and a 1-year maximum of $374.76.

Signature Bank (NASDAQ: SBNY- Get a rating) last released its quarterly results on Tuesday, April 19. The bank reported earnings per share of $5.30 for the quarter, beating consensus analyst estimates of $4.31 by $0.99. The company posted revenue of $607.96 million for the quarter, versus a consensus estimate of $608.85 million. Signature Bank had a net margin of 43.29% and a return on equity of 13.97%. In the same quarter last year, the company achieved EPS of $3.24. On average, equity research analysts expect Signature Bank to post earnings per share of 22.15 for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of SBNY. Bank of America Corp DE increased its position in Signature Bank shares by 72.7% during the 1st quarter. Bank of America Corp DE now owns 1,577,263 shares of the bank valued at $462,910,000 after acquiring an additional 663,755 shares last quarter. Rehmann Capital Advisory Group increased its position in Signature Bank shares by 4.5% during the first quarter. Rehmann Capital Advisory Group now owns 4,109 shares of the bank valued at $1,206,000 after acquiring 176 additional shares last quarter. EverSource Wealth Advisors LLC acquired a new stake in Signature Bank stock during Q1 worth approximately $78,000. The Manufacturers Life Insurance Company increased its position in Signature Bank shares by 22.6% during the first quarter. The Manufacturers Life Insurance Company now owns 47,907 shares of the bank valued at $14,060,000 after acquiring 8,834 additional shares last quarter. Finally, Resources Management Corp CT ADV increased its position in Signature Bank shares by 9.9% during the 1st quarter. Resources Management Corp CT ADV now owns 4,883 shares of the bank valued at $1,433,000 after acquiring 441 additional shares last quarter. Institutional investors hold 96.17% of the company’s shares.

Corporate Profile 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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