JPMorgan Chase & Co. Boosts Signature Bank (NASDAQ:SBNY) Price Target to $375.00

Signature Bank (NASDAQ:SBNY) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $350.00 to $375.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 54.11% from the stock’s current price.

Several other brokerages have also weighed in on SBNY. UBS Group boosted their price objective on Signature Bank from $190.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, March 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Signature Bank from $165.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, April 27th. Wedbush lifted their target price on Signature Bank from $280.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, April 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $273.00 price objective on shares of Signature Bank in a research report on Friday, May 7th. Finally, Maxim Group boosted their price objective on Signature Bank from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, April 22nd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Signature Bank has an average rating of “Buy” and a consensus price target of $246.67.

Shares of NASDAQ SBNY opened at $243.33 on Friday. Signature Bank has a 1 year low of $71.44 and a 1 year high of $260.37. The stock has a market capitalization of $13.03 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 1.99 and a beta of 2.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 0.95. The stock’s 50-day simple moving average is $241.85.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Tuesday, April 20th. The bank reported $3.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.85 by $0.39. The firm had revenue of $439.21 million during the quarter, compared to analyst estimates of $431.00 million. Signature Bank had a return on equity of 11.10% and a net margin of 30.40%. During the same period in the previous year, the company earned $1.88 earnings per share. On average, research analysts expect that Signature Bank will post 12.73 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Bessemer Group Inc. acquired a new stake in Signature Bank during the 1st quarter worth about $25,000. Inspire Advisors LLC acquired a new stake in Signature Bank during the 4th quarter worth about $30,000. Sowell Financial Services LLC lifted its holdings in shares of Signature Bank by 124.6% during the 1st quarter. Sowell Financial Services LLC now owns 128 shares of the bank’s stock valued at $32,000 after buying an additional 71 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Signature Bank during the 1st quarter valued at about $34,000. Finally, CWM LLC lifted its holdings in shares of Signature Bank by 44.1% during the 1st quarter. CWM LLC now owns 170 shares of the bank’s stock valued at $38,000 after buying an additional 52 shares during the last quarter.

Signature Bank Company Profile

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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