Large Inflow of Money Detected in Signature Bank

Signature Bank (SBNY) : Signature Bank (SBNY) had a healthy money flow of $1.35 million into the stock during the Wednesdays trading session. The value of bullish trades on upticks was $21.34 million, whereas, investors only sold shares worth $19.98 million on downticks. The stock closed the day with an up-down ratio of 1.07.The money flow in the block trades to the tune of $2.25 million shows that the bulls were dominant, the large players used the weakness in the stock to accumulate it for the long-term. $2.25 million worth of transactions were on upticks. Signature Bank (SBNY) stock slid $9.22 intraday and traded at 120.73, a change of -7.1% over previous days close. However, for the week, the company shares are -7.42% compared to previous weeks close.


Also, Brokerage firm JP Morgan maintains its rating on Signature Bank (NASDAQ:SBNY). As per the latest information, the brokerage house lowers the price target to $146 per share from a prior target of $164. The shares have been rated Overweight. The rating by the firm was issued on July 7, 2016.

Signature Bank (NASDAQ:SBNY): The stock opened at $124.10 on Wednesday but the bulls could not build on the opening and the stock topped out at $124.84 for the day. The stock traded down to $119.24 during the day, due to lack of any buying support eventually closed down at $124.04 with a loss of -4.55% for the day. The stock had closed at $129.95 on the previous day. The total traded volume was 1,989,917 shares.

The stock has recorded a 20-day Moving Average of 1.43% and the 50-Day Moving Average is 4.35%.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.