The Signature Bank (SBNY) Upgraded to “Buy” by ValuEngine

The Signature Bank (SBNY) Upgraded to “Buy” by ValuEngine

A number of other analysts have also commented on SBNY. Deutsche Bank AG cut their price target on Signature Bank from $181.00 to $178.00 and set a “buy” rating on the stock in a report on Friday, March 24th. BMO Capital Markets restated a “hold” rating and issued a $170.00 price target on shares of Signature Bank in a report on Wednesday, March 22nd. Raymond James Financial, Inc. restated an “outperform” rating and issued a $183.00 price target (up from $167.00) on shares of Signature Bank in a report on Thursday, April 6th. FBR & Co restated an “outperform” rating and issued a $170.00 price target (down from $180.00) on shares of Signature Bank in a report on Saturday, April 22nd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $175.00 price target on shares of Signature Bank in a report on Tuesday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $169.36.

Signature Bank (NASDAQ:SBNY) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, May 11th.

Signature Bank (NASDAQ:SBNY) opened at 144.92 on Thursday. The firm has a market cap of $7.83 billion, a P/E ratio of 18.38 and a beta of 0.94. Signature Bank has a 52 week low of $113.53 and a 52 week high of $164.23. The company has a 50-day moving average of $140.46 and a 200 day moving average of $149.38.

A number of large investors have recently modified their holdings of the company. Westpac Banking Corp increased its stake in shares of Signature Bank by 35.2% in the third quarter. Westpac Banking Corp now owns 3,262 shares of the bank’s stock worth $386,000 after buying an additional 849 shares in the last quarter. Suntrust Banks Inc. increased its stake in shares of Signature Bank by 18.6% in the third quarter. Suntrust Banks Inc. now owns 2,736 shares of the bank’s stock worth $323,000 after buying an additional 430 shares in the last quarter. BB&T Securities LLC increased its stake in shares of Signature Bank by 15.0% in the third quarter. BB&T Securities LLC now owns 2,419 shares of the bank’s stock worth $286,000 after buying an additional 316 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Signature Bank by 19.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,670 shares of the bank’s stock worth $198,000 after buying an additional 270 shares in the last quarter. Finally, Provident Investment Management Inc. increased its stake in shares of Signature Bank by 1.7% in the third quarter. Provident Investment Management Inc. now owns 183,581 shares of the bank’s stock worth $21,745,000 after buying an additional 3,075 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds. About Signature Bank

Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SBNY”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”}); To view ValuEngine’s full report, visit ValuEngine’s official website.

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