Analysts Set Signature Bank (NASDAQ:SBNY) Target Price at $166.67

Posted by Defense World Staff on Jun 17th, 2023

Signature Bank (NASDAQ:SBNY – Get Rating) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $174.53.

Several brokerages recently issued reports on SBNY. StockNews.com initiated coverage on shares of Signature Bank in a research note on Thursday. They issued a “sell” rating for the company. Bank of America increased their price target on Signature Bank from $8.00 to $10.00 in a research note on Monday, April 3rd. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Signature Bank in a report on Monday, March 13th.

Signature Bank Price Performance

NASDAQ SBNY opened at $0.13 on Wednesday. Signature Bank has a 52 week low of $0.05 and a 52 week high of $208.48. The stock has a fifty day moving average of $0.13 and a 200-day moving average of $67.23. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.90. The stock has a market capitalization of $8.46 million, a P/E ratio of 0.01 and a beta of 1.47.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Signature Bank by 120.9% in the fourth quarter. Victory Capital Management Inc. now owns 102,604 shares of the bank’s stock valued at $11,822,000 after purchasing an additional 56,163 shares during the period. OLD Mission Capital LLC purchased a new position in Signature Bank in the 4th quarter worth about $26,000. Voya Investment Management LLC grew its stake in Signature Bank by 2.7% during the 4th quarter. Voya Investment Management LLC now owns 22,998 shares of the bank’s stock valued at $2,650,000 after acquiring an additional 603 shares in the last quarter. Natixis grew its holdings in shares of Signature Bank by 5,615.5% during the 4th quarter. Natixis now owns 221,475 shares of the bank’s stock valued at $25,518,000 after acquiring an additional 217,600 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of Signature Bank by 26.5% during the 4th quarter. Macquarie Group Ltd. now owns 108,024 shares of the bank’s stock valued at $12,446,000 after acquiring an additional 22,626 shares in the last quarter. 93.62% of the stock is owned by institutional investors and hedge funds.

Signature Bank Company Profile

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Signature Bank provides digital assets banking business and comprises of certain loan portfolios. The company was incorporated in 2000 and is based in New York, New York.