Signature Bank - SBNY Stock Forecast, Price & News

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. In addition, it offers asset management and investment products; and retirement products, such as individual retirement accounts and administrative services for retirement vehicles. Further, the company provides wealth management services to its high net worth personal clients; and purchases, sells, and assembles small business administration loans and pools. Additionally, it offers individual and group insurance products, including health, life, disability, and long-term care insurance products for business and private clients. As of December 31, 2021, the company operated 37 private client offices located in the metropolitan New York area, Connecticut, California, and North Carolina. Signature Bank was incorporated in 2000 and is headquartered in New York, New York.

Signature Bank Stock Up 2.2 %

Shares of NASDAQ:SBNY opened at $206.41 on Monday. Signature Bank has a 52-week low of $165.36 and a 52-week high of $374.76. The business has a fifty day moving average of $188.42 and a two-hundred day moving average of $246.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $12.52 billion, a PE ratio of 10.99, a PEG ratio of 1.00 and a beta of 1.73.

Signature Bank (NASDAQ:SBNY - Get Rating) last posted its earnings results on Tuesday, July 19th. The bank reported $5.26 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.21. Signature Bank had a net margin of 43.86% and a return on equity of 15.02%. During the same period last year, the firm earned $3.57 EPS. As a group, equities research analysts expect that Signature Bank will post 21.82 earnings per share for the current fiscal year.

Signature Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were issued a $0.56 dividend. The ex-dividend date was Thursday, July 28th. This represents a $2.24 dividend on an annualized basis and a yield of 1.09%. Signature Bank's payout ratio is currently 11.93%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SBNY shares. Compass Point decreased their target price on Signature Bank from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Friday, June 10th. Piper Sandler reduced their target price on shares of Signature Bank from $375.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 20th. Stephens cut their price objective on shares of Signature Bank to $240.00 in a research report on Friday, July 22nd. UBS Group cut their price objective on shares of Signature Bank from $309.00 to $288.00 and set a "buy" rating on the stock in a report on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Signature Bank in a report on Wednesday, July 20th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $298.69.