Signature Bank (NASDAQ:SBNY) shares traded -1.57% lower at $116.99 on Wall Street last session.
In accordance with the data, 18 analysts cover Signature Bank (NASDAQ:SBNY). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $350.00 and a low of $150.00, we find $185.00. Given the previous closing price of $118.86, this indicates a potential upside of 55.65 percent. SBNY stock price is now -19.81% away from the 50-day moving average and -42.87% away from the 200-day moving average. The market capitalization of the company currently stands at $7.47B.
It has been rated a hold by 3 analysts and a buy by 14. Brokers who have rated the stock have averaged $194.38 as their price target over the next twelve months.
On December 05, 2022, Morgan Stanley Downgraded its previous ‘Overweight’ rating to ‘Equal-Weight’ on the stock reducing its target price from $223 to quote $152, while ‘Keefe Bruyette’ rates the stock as ‘Mkt Perform’.
A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SBNY stock. A new stake in Signature Bank shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $102,006,000. EDGEPOINT INVESTMENT GROUP INC. invested $98,276,000 in shares of SBNY during the first quarter. In the first quarter, WISHBONE MANAGEMENT, LP acquired a new stake in Signature Bank valued at approximately $24,568,000. TWINBEECH CAPITAL LP acquired a new stake in SBNY for approximately $13,026,000. TWO SIGMA INVESTMENTS, LP purchased a new stake in SBNY valued at around $11,045,000 in the second quarter. In total, there are 794 active investors with 96.20% ownership of the company’s stock.
Signature Bank (NASDAQ: SBNY) opened at $114.97 on Wednesday. During the past 12 months, Signature Bank has had a low of $118.50 and a high of $374.76. The fifty day moving average price for SBNY is $145.22 and a two-hundred day moving average price translates $203.66 for the stock.
The latest earnings results from Signature Bank (NASDAQ: SBNY) was released for Sep, 2022. According to the Banks – Regional Company, earnings per share came in at $5.57, beating analysts’ expectations of $5.41 by 0.16. This compares to $3.88 EPS in the same period last year. The net profit margin was 42.40% and return on equity was 16.00% for SBNY. The company reported revenue of $976.35 million for the quarter, compared to $555.72 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 75.69 percent. For the current quarter, analysts expect SBNY to generate $726.29M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/10/2022. Investors who held shares on 10/28/2022 were paid a $0.56 dividend. On an annualized basis, this represents a $2.24 dividend and a 1.91% percent yield. There was an ex-dividend date of 10/27/2022 for this dividend. In terms of dividend payout ratio, SBNY is presently at 10.90%.
Signature Bank(SBNY) 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. 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.