Signature Bank (NASDAQ:SBNY) Price Target Cut to $200.00

Signature Bank (NASDAQ:SBNYGet Rating) had its price objective dropped by equities research analysts at Maxim Group from $250.00 to $200.00 in a note issued to investors on Wednesday, The Fly reports. Maxim Group’s price target would suggest a potential upside of 68.19% from the stock’s current price.

A number of other brokerages also recently issued reports on SBNY. Compass Point cut their price objective on shares of Signature Bank to $180.00 in a research report on Thursday, October 20th. JPMorgan Chase & Co. cut their price objective on shares of Signature Bank from $200.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 13th. Jefferies Financial Group downgraded shares of Signature Bank from a “buy” rating to a “hold” rating in a research report on Monday, January 9th. Stephens downgraded shares of Signature Bank from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $150.00 to $145.00 in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Signature Bank from $205.00 to $137.00 in a research report on Wednesday, December 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Signature Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.29.

Signature Bank Trading Up 0.5 %

NASDAQ:SBNY opened at $118.91 on Wednesday. Signature Bank has a one year low of $106.81 and a one year high of $355.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $7.48 billion, a P/E ratio of 5.81, a P/E/G ratio of 0.71 and a beta of 1.65. The firm has a 50-day simple moving average of $123.43 and a 200-day simple moving average of $155.21.

Signature Bank (NASDAQ:SBNYGet Rating) last posted its quarterly earnings results on Tuesday, October 18th. The bank reported $5.57 EPS for the quarter, beating the consensus estimate of $5.42 by $0.15. Signature Bank had a net margin of 41.55% and a return on equity of 16.49%. The business had revenue of $717.74 million during the quarter, compared to analyst estimates of $737.63 million. During the same quarter in the previous year, the business posted $3.88 EPS. Equities analysts anticipate that Signature Bank will post 21.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Signature Bank

Several large investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its stake in shares of Signature Bank by 29.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 3,081 shares of the bank’s stock valued at $355,000 after purchasing an additional 695 shares during the period. KG&L Capital Management LLC acquired a new position in shares of Signature Bank in the 4th quarter valued at $378,000. Reinhart Partners Inc. lifted its stake in shares of Signature Bank by 29.2% in the 4th quarter. Reinhart Partners Inc. now owns 128,255 shares of the bank’s stock valued at $14,778,000 after purchasing an additional 29,004 shares during the period. Private Advisor Group LLC acquired a new position in shares of Signature Bank in the 4th quarter valued at $213,850,000. Finally, Maryland State Retirement & Pension System acquired a new position in shares of Signature Bank in the 4th quarter valued at $547,000. 93.62% of the stock is currently owned by institutional investors and hedge funds.

Signature Bank Company Profile

(Get 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 provides various lending products comprising commercial and industrial loans, real estate loans, and letters of credit.

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