Compass Point Trims Signature Bank (NASDAQ: SBNY) Target Price at $210.00

Signature Bank (NASDAQ: SBNY- Get a rating) had its target price lowered by Compass Point to $210.00 in a note issued to investors on Thursday, Target Stock Advisor reports. Compass Point’s price target would indicate a potential upside of 38.24% from the company’s current price.

A number of other stock analysts have also weighed in on SBNY recently. JPMorgan Chase & Co. lowered its price target on Signature Bank from $460.00 to $300.00 and set an “overweight” rating for the company in a Friday, July 1 report. Wedbush cut its price target on Signature Bank from $240.00 to $225.00 and set an “outperform” rating on the stock in a Wednesday, September 7 research note. UBS Group lowered its price target on Signature Bank from $309.00 to $288.00 and placed a “buy” rating on the stock in a Wednesday July 27 research note. Raymond James reduced his price target on Signature Bank from $305.00 to $286.00 in a research note on Wednesday, July 20. Finally, Stephens lowered his target price on Signature Bank to $240.00 in a Friday, July 22 research report. One stock research analyst gave the stock a hold rating, thirteen gave the company a buy rating and one gave the company a high buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $275.46.

Signature Bank Price Performance

Shares of NASDAQ SBNY traded down $3.08 during Thursday’s trading, hitting $151.91. The company had a trading volume of 18,391 shares, compared to an average volume of 679,870. Signature Bank has a fifty-two week low of $146.00 and a fifty-two week high of $374.76. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt ratio of 0.27. The stock has a fifty-day simple moving average of $180.81 and a two-hundred-day simple moving average of $214.14. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 8.09, a growth price-to-earnings ratio of 0.73 and a beta of 1.72.

Signature Bank (NASDAQ: SBNY- Get a rating) last reported quarterly earnings data on Tuesday, July 19. The bank reported earnings per share (EPS) of $5.26 for the quarter, beating the consensus estimate of $5.06 by $0.20. Signature Bank had a net margin of 43.86% and a return on equity of 15.02%. The company posted revenue of $686.77 million in the quarter, compared to $686.62 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of $3.57. On average, research analysts expect Signature Bank to post earnings per share of 21.68 for the current year.

Institutional entries and exits

Several hedge funds and other institutional investors have recently bought and sold shares of SBNY. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in Signature Bank stock during the first quarter worth approximately $29,000. JCSD Capital LLC purchased a new stake in Signature Bank stock during Q1 worth approximately $29,000. Blume Capital Management Inc. acquired a new stake in Signature Bank in the first quarter valued at $29,000. Quent Capital LLC increased its stake in Signature Bank by 152.5% during the first quarter. Quent Capital LLC now owns 101 shares of the bank worth $30,000 after acquiring 61 additional 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 valued at $36,000 after buying 112 more shares in the last quarter. Institutional investors hold 98.62% of the company’s shares.

Corporate Profile Signature Bank

(Get a rating)

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 offers various loan products including commercial and industrial loans, real estate loans and letters of credit.

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