Signature Bank (SBNY) is Downgraded by Piper Jaffray to Neutral

Signature Bank (SBNY) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on May 31, 2016.

On the company’s financial health, Signature Bank reported $1.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $1.94.Analysts expectations of $ 282.76.During the same quarter in the previous year, the company posted $1.64 EPS.

Signature Bank opened for trading at $136.51 and hit $137.585 on the upside on Friday, eventually ending the session at $137.38, with a gain of 0.85% or 1.16 points. The heightened volatility saw the trading volume jump to 3,81,907 shares. Company has a market cap of $7,318 M.

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 Bank’s 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.

Signature Bank

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