Signature Bank (NASDAQ: SBNY – Get a rating) had its target price reduced by Stephens investment analysts to $325.00 in a research report released Friday to clients and investors, Target Stock Advisor reports. Stephens’ price target would indicate a potential upside of 55.09% from the company’s previous close.

SBNY has been the subject of a number of other research reports. Piper Sandler cut her price target on Signature Bank from $375.00 to $325.00 and set an “overweight” rating on the stock in a Friday, May 20 research report. Raymond James lowered his target price on Signature Bank shares from $400.00 to $350.00 in a Monday, May 16 research 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 report. Morgan Stanley lowered its target price on Signature Bank shares from $508.00 to $428.00 and set an “overweight” rating for the company in a Monday, March 28 research note. To finish, StockNews.com moved Signature Bank shares from a “sell” rating to a “hold” rating in a Friday, May 13 research report. One financial analyst gave the stock a hold rating, thirteen gave the company a buy rating and one gave the company a high buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $370.42.

Signature Bank Stocks traded at $6.09 during Friday trading hours, hitting $209.55. The stock had a trading volume of 25,550 shares, compared to an average trading volume of 1,000,252 shares. The stock has a market capitalization of $12.71 billion, a price/earnings ratio of 12.26, a P/E/G ratio of 0.90 and a beta of 1.78. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt ratio of 0.37. The company’s 50-day simple moving average is $254.55 and its 200-day simple moving average is $300.01. Signature Bank has a one-year minimum of $179.05 and a one-year maximum of $374.76.

Signature Bank (NASDAQ: SBNY – Get a rating) last released its results on Tuesday, April 19. The bank reported EPS of $5.30 for the quarter, beating the consensus estimate 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 a consensus estimate of $608.85 million. During the same period last year, the company achieved EPS of $3.24. Research analysts expect Signature Bank to post an EPS of 22.02 for the current fiscal year.

Institutional investors and hedge funds have recently increased or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Signature Bank by 1.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,893 shares in the bank worth $1,143,000 after buying 43 more shares last quarter. Allworth Financial LP increased its position in Signature Bank shares by 28.7% in the first quarter. Allworth Financial LP now owns 193 shares of the bank valued at $57,000 after acquiring 43 additional shares during the period. M&T Bank Corp increased its stake in Signature Bank by 3.0% during the fourth quarter. M&T Bank Corp now owns 1,603 shares of the bank valued at $518,000 after buying 47 additional shares during the period. Community Capital Management LLC increased its position in Signature Bank shares by 0.6% during the fourth quarter. Community Capital Management LLC now owns 8,200 shares of the bank valued at $2,636,000 after acquiring 50 additional shares in the last quarter. Finally, the Alaska State Department of Revenue increased its holdings of Signature Bank stock by 0.6% in the first quarter. The Alaska State Department of Revenue now owns 8,827 shares of the bank worth $2,590,000 after buying 50 more shares in the last quarter. Hedge funds and other institutional investors hold 96.17% of the company’s shares.

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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