Signature Bank (SBNY) Getting Somewhat Favorable News Coverage, Study Finds

Media headlines about Signature Bank (NASDAQ:SBNY) have trended somewhat positive this week, according to Accern Sentiment Analysis. Accern scores the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Signature Bank earned a media sentiment score of 0.13 on Accern’s scale. Accern also assigned media stories about the bank an impact score of 46.7107234666548 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

These are some of the news articles that may have impacted Accern Sentiment Analysis’s analysis:

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Several equities research analysts recently commented on the company. BidaskClub cut Signature Bank from a “hold” rating to a “sell” rating in a research report on Saturday, April 7th. UBS began coverage on Signature Bank in a research report on Wednesday, March 21st. They issued a “neutral” rating and a $163.00 target price on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $181.00 target price on shares of Signature Bank in a research report on Tuesday, February 27th. Piper Jaffray reissued a “hold” rating and issued a $149.00 target price on shares of Signature Bank in a research report on Tuesday, January 9th. Finally, Maxim Group raised their target price on Signature Bank from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $159.75.

NASDAQ:SBNY traded down $1.60 on Friday, hitting $138.28. The stock had a trading volume of 354,459 shares, compared to its average volume of 422,230. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.95 and a current ratio of 0.96. Signature Bank has a 52-week low of $116.68 and a 52-week high of $161.92. The stock has a market capitalization of $7,690.46, a price-to-earnings ratio of 15.52, a PEG ratio of 1.17 and a beta of 1.10.

Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, topping the consensus estimate of $2.23 by $0.20. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. The firm had revenue of $328.27 million for the quarter, compared to the consensus estimate of $321.86 million. During the same quarter last year, the company earned $2.11 earnings per share. equities analysts forecast that Signature Bank will post 11.14 earnings per share for the current fiscal year.

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About Signature Bank

Signature Bank provides various business and personal 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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