Signature Bank (NASDAQ:SBNY) Research Coverage Started at StockNews.com

Posted by Defense World Staff on Jun 15th, 2023

Equities research analysts at StockNews.com initiated coverage on shares of Signature Bank (NASDAQ:SBNY – Get Rating) in a report released on Thursday. The brokerage set a “sell” rating on the bank’s stock.

Several other research analysts have also issued reports on the company. Wells Fargo & Company restated an “overweight” rating on shares of Signature Bank in a research report on Monday, March 13th. 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Signature Bank presently has an average rating of “Hold” and an average price target of $174.53.

Signature Bank Price Performance

Shares of SBNY stock opened at $0.12 on Thursday. The firm has a market cap of $7.55 million, a price-to-earnings ratio of 0.01 and a beta of 1.47. Signature Bank has a 12 month low of $0.05 and a 12 month high of $208.48. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.48. The stock has a 50-day moving average price of $0.13 and a 200 day moving average price of $68.63.

Institutional Investors Weigh In On Signature Bank

Hedge funds have recently bought and sold shares of the company. OLD Mission Capital LLC acquired a new stake in shares of Signature Bank during the 4th quarter worth about $26,000. Parallel Advisors LLC increased its stake in shares of Signature Bank by 355.4% in 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 during the last quarter. Allworth Financial LP raised its stake 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 acquiring an additional 146 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Signature Bank during the 3rd quarter worth approximately $45,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Signature Bank by 473.0% in the 4th quarter. Quadrant Capital Group LLC now owns 361 shares of the bank’s stock valued at $42,000 after acquiring an additional 298 shares during the last quarter. 93.62% of the stock is currently owned by institutional investors and hedge funds.

About Signature Bank

(Get Rating)

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.