Signature Bank (NASDAQ:SBNY) Receives $166.67 Consensus PT from Analysts

Posted by Defense World Staff on May 23rd, 2023

Signature Bank (NASDAQ:SBNY – Get Rating) has earned an average recommendation of “Hold” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $166.67.

A number of equities analysts recently commented on the company. StockNews.com started coverage on Signature Bank in a research note on Monday. They issued a “sell” rating on the stock. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Signature Bank in a research note on Monday, March 13th. Finally, Bank of America increased their price objective on shares of Signature Bank from $8.00 to $10.00 in a research report on Monday, April 3rd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SBNY. OLD Mission Capital LLC bought a new stake in shares of Signature Bank during the fourth quarter valued at approximately $26,000. Parallel Advisors LLC increased its stake in Signature Bank by 355.4% during the 4th quarter. Parallel Advisors LLC now owns 255 shares of the bank’s stock valued at $29,000 after purchasing an additional 199 shares in the last quarter. Allworth Financial LP raised its holdings in Signature Bank by 97.3% during the fourth quarter. Allworth Financial LP now owns 296 shares of the bank’s stock worth $34,000 after buying an additional 146 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Signature Bank by 473.0% during the fourth quarter. Quadrant Capital Group LLC now owns 361 shares of the bank’s stock valued at $42,000 after buying an additional 298 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Signature Bank during the third quarter worth about $45,000. 93.62% of the stock is owned by institutional investors and hedge funds.

Signature Bank Stock Down 10.7 %

Shares of SBNY opened at $0.12 on Friday. The stock’s 50-day moving average price is $14.11 and its two-hundred day moving average price is $84.82. Signature Bank has a 12 month low of $0.05 and a 12 month high of $226.59. The company has a market capitalization of $7.86 million, a PE ratio of 0.01 and a beta of 1.49. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.48.

About Signature Bank

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Signature Bank engages in the provision of commercial banking services. It operates through the Commercial Banking and Specialty Finance segments. The Commercial Banking segment consists of commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities.