Signature Bank (NASDAQ:SBNY) Receives Upgrade From Hovde Group. Will Other Analysts Follow Suit?

August 10, 2018 - By Kristen Paramore

Signature Bank (NASDAQ:SBNY) Stock Upgrade

The previous rating of a “Market Perform” for Signature Bank (NASDAQ:SBNY) has been discontinued as Hovde Group increased SBNY’s current rating to a respectable “Outperform”.

Signature Bank (NASDAQ:SBNY) Ratings Coverage

Among 13 analysts covering Signature Bank (NASDAQ:SBNY), 7 have Buy rating, 0 Sell and 6 Hold. Therefore 54% are positive. Signature Bank has $20000 highest and $130 lowest target. $155.30’s average target is 38.93% above currents $111.78 stock price. Signature Bank had 17 analyst reports since February 26, 2018 according to SRatingsIntel. The company was upgraded on Friday, April 20 by Wells Fargo. The rating was maintained by Morgan Stanley with “Equal-Weight” on Tuesday, July 31. The stock has “Overweight” rating by Barclays Capital on Friday, July 20. The firm has “Buy” rating given on Monday, February 26 by Keefe Bruyette & Woods. The stock has “Buy” rating by Jefferies on Thursday, April 19. As per Thursday, August 9, the company rating was upgraded by Hovde Group. On Thursday, April 19 the stock rating was maintained by Maxim Group with “Buy”. On Thursday, April 19 the stock rating was maintained by BMO Capital Markets with “Buy”. On Wednesday, June 13 the stock rating was upgraded by PiperJaffray to “Overweight”. The stock of Signature Bank (NASDAQ:SBNY) has “Hold” rating given on Friday, April 20 by Piper Jaffray.

The stock increased 0.49% or $0.55 during the last trading session, reaching $111.78. About 615,887 shares traded or 4.55% up from the average. Signature Bank (NASDAQ:SBNY) has declined 9.96% since August 10, 2017 and is downtrending. It has underperformed by 22.53% the S&P500.

Analysts await Signature Bank (NASDAQ:SBNY) to report earnings on October, 18. They expect $2.82 EPS, up 23.14 % or $0.53 from last year’s $2.29 per share. SBNY’s profit will be $151.39M for 9.91 P/E if the $2.82 EPS becomes a reality. After $2.82 actual EPS reported by Signature Bank for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Signature Bank provides various business and personal banking services and products. The company has market cap of $6.00 billion. 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. It has a 14.23 P/E ratio. The firm also offers loan products comprising commercial and industrial loans; real estate loans, such as loans secured by commercial and residential properties, and construction and land loans; temporary financing for commercial and residential properties; letters of credit; and personal lines of credit and loans to acquire personal assets, as well as asset lending, mortgages, home equity loans, and credit card accounts.

More news for Signature Bank (NASDAQ:SBNY) were recently published by: Benzinga.com, which released: “JPMorgan Downgrades Signature Bank: ‘We Would Lock In Losses And Trim Exposure'” on July 21, 2018. Benzinga.com‘s article titled: “Benzinga’s Top Upgrades, Downgrades For August 9, 2018” and published on August 09, 2018 is yet another important article.

Signature Bank (NASDAQ:SBNY) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.