Signature Bank (SBNY) was Upgraded by Barclays to ” Overweight” while Lowering the Price Target of the company shares to $ 139 from a previous price target of $150 . Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on Sep 28, 2016.
Many Wall Street Analysts have commented on Signature Bank. Shares were Reiterated by FBR Capital on Jul 21, 2016 to “Outperform” and Lowered the Price Target to $ 155 from a previous price target of $167 .
On the company’s financial health, Signature Bank reported $1.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus of $1.98.Analysts expectations of $ 295.42.During the same quarter in the previous year, the company posted $1.77 EPS.
Signature Bank opened for trading at $114.61 and hit $116.48 on the upside on Tuesday, eventually ending the session at $115.96, with a gain of 0.99% or 1.14 points. The heightened volatility saw the trading volume jump to 4,34,720 shares. Company has a market cap of $6,225 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 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.