Signature Bank (NASDAQ:SBNY) PT Raised to $315.00 at Morgan Stanley

Signature Bank (NASDAQ:SBNY) had its price target hoisted by Morgan Stanley from $280.00 to $315.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Morgan Stanley’s target price would indicate a potential upside of 26.76% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Raymond James raised their price objective on shares of Signature Bank from $290.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 28th. Wells Fargo & Company raised their price target on shares of Signature Bank from $220.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, March 8th. UBS Group increased their target price on shares of Signature Bank from $190.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, March 9th. Maxim Group boosted their price target on Signature Bank from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, April 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Signature Bank from $180.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, February 9th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Signature Bank has a consensus rating of “Buy” and an average price target of $227.80.

Shares of SBNY stock opened at $248.51 on Tuesday. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 1.40 and a beta of 1.98. Signature Bank has a 1-year low of $71.44 and a 1-year high of $260.37. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $232.37 and its 200-day simple moving average is $167.51.

Signature Bank (NASDAQ:SBNY) last issued its earnings results on Tuesday, April 20th. The bank reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.39. Signature Bank had a return on equity of 10.39% and a net margin of 25.40%. During the same period in the prior year, the company earned $1.88 EPS. On average, sell-side analysts predict that Signature Bank will post 9.6 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp boosted its holdings in shares of Signature Bank by 16.9% in the 4th quarter. Mackenzie Financial Corp now owns 982,572 shares of the bank’s stock worth $132,932,000 after acquiring an additional 141,696 shares in the last quarter. First Pacific Advisors LP boosted its stake in Signature Bank by 14.1% in the fourth quarter. First Pacific Advisors LP now owns 938,334 shares of the bank’s stock worth $126,947,000 after purchasing an additional 115,874 shares in the last quarter. Mirova US LLC grew its holdings in shares of Signature Bank by 89.8% during the fourth quarter. Mirova US LLC now owns 773,378 shares of the bank’s stock worth $104,630,000 after purchasing an additional 365,825 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Signature Bank by 1.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 580,105 shares of the bank’s stock valued at $78,482,000 after buying an additional 8,659 shares in the last quarter. Finally, Davis Capital Partners LLC raised its holdings in shares of Signature Bank by 37.5% in the fourth quarter. Davis Capital Partners LLC now owns 550,000 shares of the bank’s stock valued at $74,409,000 after buying an additional 150,000 shares during the last quarter. 92.31% of the stock is owned by institutional investors.

About Signature Bank

Signature Bank commercial banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.

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Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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