Piper Jaffray Seems to Have Gained Confidence In Signature Bank (NASDAQ:SBNY), Upgrades Stocks

June 13, 2018 - By Robert Crowder

Signature Bank (NASDAQ:SBNY) Stock Upgrade

Shares of Signature Bank (NASDAQ:SBNY) stock were increased to a “Buy” by research analysts at Piper Jaffray, who now have a target price per share set at $150.0000 on SBNY. This target is 19.02 % from SBNY’s current share price.

Signature Bank (NASDAQ:SBNY) Ratings Coverage

Among 11 analysts covering Signature Bank (NASDAQ:SBNY), 7 have Buy rating, 0 Sell and 4 Hold. Therefore 64% are positive. Signature Bank has $200.0 highest and $15000 lowest target. $163.27’s average target is 29.55% above currents $126.03 stock price. Signature Bank had 20 analyst reports since December 18, 2017 according to SRatingsIntel. The rating was maintained by Maxim Group on Thursday, April 19 with “Buy”. On Thursday, December 21 the stock rating was maintained by Keefe Bruyette & Woods with “Buy”. Wells Fargo upgraded the stock to “Outperform” rating in Friday, April 20 report. Keefe Bruyette & Woods maintained the stock with “Buy” rating in Thursday, April 19 report. Jefferies maintained Signature Bank (NASDAQ:SBNY) rating on Thursday, April 19. Jefferies has “Buy” rating and $16100 target. Piper Jaffray maintained the stock with “Hold” rating in Thursday, January 18 report. The stock has “Hold” rating by Piper Jaffray on Friday, April 20. The stock of Signature Bank (NASDAQ:SBNY) has “Buy” rating given on Thursday, January 18 by Stephens. Keefe Bruyette & Woods maintained the stock with “Buy” rating in Monday, February 26 report. Morgan Stanley maintained the shares of SBNY in report on Tuesday, April 24 with “Equal-Weight” rating.

The stock increased 0.20% or $0.26 during the last trading session, reaching $126.03. About 293,549 shares traded. Signature Bank (NASDAQ:SBNY) has declined 9.96% since June 13, 2017 and is downtrending. It has underperformed by 22.53% the S&P500.

Analysts await Signature Bank (NASDAQ:SBNY) to report earnings on July, 18. They expect $2.81 earnings per share, up 27.15 % or $0.60 from last year’s $2.21 per share. SBNY’s profit will be $150.83 million for 11.21 P/E if the $2.81 EPS becomes a reality. After $2.69 actual earnings per share reported by Signature Bank for the previous quarter, Wall Street now forecasts 4.46 % EPS growth.

Signature Bank provides various business and personal banking services and products. The company has market cap of $6.77 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 23.88 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: “Benzinga’s Top Upgrades, Downgrades For June 13, 2018” on June 13, 2018. 247Wallst.com‘s article titled: “Top Analyst Upgrades and Downgrades: Applied Materials, Comcast, HUYA, Sprint, Time Warner, Yelp and More” and published on June 13, 2018 is yet another important article.

Signature Bank (NASDAQ:SBNY) Ratings Chart

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