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 Down 0.9 %

Shares of NASDAQ:SBNY traded down $1.77 during midday trading on Tuesday, reaching $187.00. 445,297 shares of the company's stock were exchanged, compared to its average volume of 985,545. Signature Bank has a 52-week low of $165.36 and a 52-week high of $374.76. The stock has a market capitalization of $11.34 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.90 and a beta of 1.74. 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 business's fifty day moving average price is $189.31 and its two-hundred day moving average price is $249.15.

Signature Bank (NASDAQ:SBNY - Get Rating) last announced its earnings results on Tuesday, July 19th. The bank reported $5.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter last year, the business earned $3.57 EPS. Analysts forecast that Signature Bank will post 21.81 EPS for the current year.

Signature Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, July 28th. Signature Bank's dividend payout ratio is currently 11.93%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wedbush reduced their target price on Signature Bank from $415.00 to $375.00 and set a "buy" rating on the stock in a report on Wednesday, April 20th. The Goldman Sachs Group reduced their target price on Signature Bank from $377.00 to $265.00 and set a "buy" rating on the stock in a report on Tuesday, May 31st. Maxim Group reduced their target price on Signature Bank from $450.00 to $425.00 and set a "buy" rating on the stock in a report on Wednesday, July 20th. Morgan Stanley reduced their target price on Signature Bank from $262.00 to $247.00 and set an "overweight" rating on the stock in a report on Wednesday, July 20th. Finally, TheStreet lowered Signature Bank from a "b" rating to a "c+" rating in a research report on Wednesday, July 13th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $298.69.