Signature Bank (NASDAQ:SBNY)’s stock price hit a new 52-week high on Thursday . The company traded as high as $138.49 and last traded at $138.33, with a volume of 1695 shares trading hands. The stock had previously closed at $136.32.
A number of brokerages have weighed in on SBNY. BidaskClub upgraded Signature Bank from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. Stephens increased their target price on Signature Bank from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. ValuEngine upgraded Signature Bank from a “strong sell” rating to a “sell” rating in a report on Monday, November 25th. Wells Fargo & Co decreased their target price on Signature Bank from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Morgan Stanley increased their target price on Signature Bank from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Signature Bank presently has an average rating of “Buy” and an average price target of $138.89.
The firm has a fifty day moving average price of $132.96 and a 200 day moving average price of $124.21. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.05. The company has a market cap of $7.48 billion, a P/E ratio of 12.22, a PEG ratio of 1.14 and a beta of 1.38.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Signature Bank by 0.4% in the second quarter. BlackRock Inc. now owns 5,312,628 shares of the bank’s stock valued at $641,980,000 after acquiring an additional 20,404 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Signature Bank by 2.1% in the second quarter. Vanguard Group Inc. now owns 4,871,753 shares of the bank’s stock valued at $588,702,000 after acquiring an additional 100,830 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Signature Bank by 1.9% in the third quarter. Wedge Capital Management L L P NC now owns 735,323 shares of the bank’s stock valued at $87,665,000 after acquiring an additional 13,758 shares during the last quarter. Invesco Ltd. boosted its holdings in Signature Bank by 17.4% in the second quarter. Invesco Ltd. now owns 516,338 shares of the bank’s stock valued at $62,393,000 after acquiring an additional 76,350 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Signature Bank by 7.5% in the second quarter. Mackenzie Financial Corp now owns 502,749 shares of the bank’s stock valued at $60,752,000 after acquiring an additional 35,073 shares during the last quarter. Institutional investors own 90.91% of the company’s stock.
About Signature Bank (NASDAQ:SBNY)
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.
Read More: How do investors use RSI to grade stocks?
Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.
