Shares of Signature Bank (NASDAQ:SBNY - Get Rating) have been assigned a consensus rating of "Moderate Buy" from the seventeen brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $227.50.
Several equities research analysts have weighed in on the stock. Maxim Group dropped their price target on shares of Signature Bank from $425.00 to $350.00 in a research report on Wednesday, October 19th. Keefe, Bruyette & Woods cut shares of Signature Bank from an "outperform" rating to a "market perform" rating and set a $185.00 price target for the company. in a research report on Wednesday, October 19th. The Goldman Sachs Group dropped their price target on shares of Signature Bank from $216.00 to $176.00 and set a "buy" rating for the company in a research report on Friday, September 30th. UBS Group dropped their price target on shares of Signature Bank from $309.00 to $288.00 and set a "buy" rating for the company in a research report on Wednesday, July 27th. Finally, Compass Point dropped their price target on shares of Signature Bank to $180.00 in a research report on Thursday, October 20th.
Signature Bank Price Performance
Shares of Signature Bank stock opened at $132.03 on Friday. Signature Bank has a 52-week low of $129.96 and a 52-week high of $374.76. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 6.45, a price-to-earnings-growth ratio of 0.68 and a beta of 1.67. The company has a fifty day moving average of $153.78 and a 200-day moving average of $179.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.82 and a current ratio of 0.82.
Signature Bank (NASDAQ:SBNY - Get Rating) last announced its quarterly earnings data on Tuesday, October 18th. The bank reported $5.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.44 by $0.13. Signature Bank had a net margin of 41.55% and a return on equity of 16.49%. During the same period in the previous year, the business posted $3.88 earnings per share. Equities research analysts expect that Signature Bank will post 21.51 EPS for the current year.
Signature Bank Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Friday, October 28th were paid a $0.56 dividend. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $2.24 annualized dividend and a dividend yield of 1.70%. Signature Bank's payout ratio is 10.94%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of SBNY. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in Signature Bank during the 1st quarter valued at about $29,000. JCSD Capital LLC bought a new stake in Signature Bank during the 1st quarter valued at about $29,000. Blume Capital Management Inc. bought a new stake in Signature Bank during the 1st quarter valued at about $29,000. Quent Capital LLC increased its stake in Signature Bank by 152.5% during the 1st quarter. Quent Capital LLC now owns 101 shares of the bank's stock valued at $30,000 after purchasing an additional 61 shares in the last quarter. Finally, Cambridge Trust Co. increased its stake in Signature Bank by 1,018.2% during the 1st quarter. Cambridge Trust Co. now owns 123 shares of the bank's stock valued at $36,000 after purchasing an additional 112 shares in the last quarter. 98.62% of the stock is currently owned by institutional investors.
Signature Bank Company Profile
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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