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 Signature Bank stock traded up $4.35 during trading on Friday, hitting $206.41. 322,596 shares of the stock traded hands, compared to its average volume of 976,947. The stock has a market cap of $12.51 billion, a P/E ratio of 10.99, a PEG ratio of 0.98 and a beta of 1.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.82 and a current ratio of 0.83. Signature Bank has a twelve month low of $165.36 and a twelve month high of $374.76. The company has a fifty day moving average price of $188.42 and a two-hundred day moving average price of $247.29.

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 return on equity of 15.02% and a net margin of 43.86%. During the same period last year, the company posted $3.57 earnings per share. Equities research analysts predict that Signature Bank will post 21.8 EPS for the current fiscal year.

Signature Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Thursday, July 28th. Signature Bank's dividend payout ratio is presently 11.93%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SBNY. TheStreet downgraded shares of Signature Bank from a "b" rating to a "c+" rating in a research report on Wednesday, July 13th. Piper Sandler decreased their price target on shares of Signature Bank from $375.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, May 20th. Stephens reduced their price objective on Signature Bank to $240.00 in a research note on Friday, July 22nd. Maxim Group cut their target price on Signature Bank from $450.00 to $425.00 and set a "buy" rating on the stock in a research note on Wednesday, July 20th. Finally, Jefferies Financial Group cut their target price on Signature Bank from $352.00 to $267.00 in a research note on Monday, July 11th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $298.69.