Jefferies Financial Group lowers Signature Bank (NASDAQ:SBNY) price target to $267.00
Signature Bank (NASDAQ: SBNY- Get a rating) saw its price target lowered by Jefferies Financial Group stock research analysts from $352.00 to $267.00 in a research note released to investors on Monday, Fly reports. Jefferies Financial Group’s price target suggests a potential upside of 40.96% from the current share price.
SBNY has been the subject of several other research reports. Morgan Stanley cut its price target on Signature Bank from $508.00 to $428.00 and set an “overweight” rating on the stock in a Monday, March 28 research report. UBS Group cut its price target on Signature Bank from $472.00 to $309.00 and placed a “buy” rating on the stock in a Monday, June 6 research report. Wells Fargo & Company cut its price target on Signature Bank from $435.00 to $408.00 and set an “overweight” rating on the stock in a Wednesday, April 20 report. Stephens reduced his price target on Signature Bank to $325.00 in a Friday, May 27 report. Finally, Compass Point cut its price target on Signature Bank from $350.00 to $300.00 and set a “buy” rating on the stock in a Friday, June 10 report. One analyst gave the stock a hold rating, thirteen gave the company a buy rating and one gave the company’s stock a strong buy rating. According to MarketBeat, Signature Bank currently has a consensus buy rating and a consensus price target of $328.62.
Shares of Signature Bank traded down $4.05 during Monday’s trading, hitting $189.41. 3,079 shares of the company were traded, against an average volume of 991,851. The company has a debt ratio of 0.37, a quick ratio of 0.84 and a current ratio of 0.85. Signature Bank has a 1-year minimum of $165.36 and a 1-year maximum of $374.76. The company has a market capitalization of $11.48 billion, a P/E ratio of 11.08, a PEG ratio of 0.91 and a beta of 1.80. The company’s 50-day moving average price is $200.68 and its 200-day moving average price is $272.96.
Signature Bank (NASDAQ: SBNY- Get a rating) last released its quarterly results on Tuesday, April 19. The bank reported EPS of $5.30 for the quarter, beating analyst consensus estimates of $4.31 by $0.99. Signature Bank had a return on equity of 13.97% and a net margin of 43.29%. The company posted revenue of $607.96 million in the quarter, compared to $608.85 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of $3.24. As a group, equity research analysts expect Signature Bank to post EPS of 22.33 for the current year.
Large investors have recently changed their positions in the stock. Capital International Investors purchased a new position in Signature Bank stock during Q4 for a value of approximately $599,227,000. State Street Corp increased its stake in Signature Bank by 53.1% during the fourth quarter. State Street Corp now owns 3,034,921 shares of the bank valued at $981,706,000 after buying an additional 1,052,338 shares in the last quarter. Bank of America Corp DE increased its stake in Signature Bank by 72.7% during the 1st quarter. Bank of America Corp DE now owns 1,577,263 shares of the bank valued at $462,910,000 after purchasing an additional 663,755 shares in the last quarter. Norges Bank acquired a new stake in Signature Bank during the 4th quarter at a value of $185,605,000. Finally, Brown Brothers Harriman & Co. increased its stake in Signature Bank by 3,956,857.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 553,974 shares of the bank valued at $162,586,000 after buying an additional 553,960 shares in the last quarter. Institutional investors hold 96.17% 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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