Analyst Rating Update on Signature Bank (SBNY)

Signature Bank (NASDAQ:SBNY) : Zacks Investment Research ranks Signature Bank (NASDAQ:SBNY) as 3, which is a Hold recommendation. 9 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 3 other analysts are mildly bullish on the stock and favor a Buy. A total of 3 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 15 research analysts is 1.57, which indicates as a Buy.

Signature Bank (NASDAQ:SBNY) : 14 investment research analysts covering Signature Bank (NASDAQ:SBNY) have an average price target of $160.36 for the near short term. The highest target price given by the Brokerage Firm to the stock is $175 and the lowest target is $117 for the short term. Analysts expect the variance to be within $14.32 of the average price.

For the current week, the company shares have a recommendation consensus of Buy.

Signature Bank (NASDAQ:SBNY): stock turned positive on Tuesday. Though the stock opened at $119.01, the bulls momentum made the stock top out at $122.07 level for the day. The stock recorded a low of $117.82 and closed the trading day at $121.58, in the green by 5.73%. The total traded volume for the day was 768,209. The stock had closed at $114.99 in the previous days trading.

Signature Bank (the Bank) is a full-service commercial bank with 27 private client o?ffices located throughout the New York metropolitan area. The Bank primarily serves privately owned businesses, their owners and senior managers. Signature Bank offers a range of business and personal banking products and services as well as investment, brokerage, asset management and insurance products and services through its subsidiary, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser. In addition, Signature Banks wholly owned specialty finance subsidiary, Signature Financial LLC, provides equipment finance and leasing along with taxi medallion and transportation financing to clients located throughout the United States. Through Signature Securities, it also purchases, securitizes and sells the guaranteed portions of the United States Small Business Administration (SBA) loans.

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