Signature Bank (NASDAQ:SBNY) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $138.49 and last traded at $138.33, with a volume of 1695 shares changing hands. The stock had previously closed at $136.32.

A number of research firms have recently issued reports on SBNY. Hovde Group upgraded shares of Signature Bank from a “market perform” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Wednesday, November 20th. ValuEngine upgraded shares of Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Monday, November 25th. BidaskClub upgraded shares of Signature Bank from a “hold” rating to a “buy” rating in a research note on Friday, December 13th. Stephens lifted their price target on shares of Signature Bank from $140.00 to $144.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley lifted their price target on shares of Signature Bank from $143.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $138.89.

The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 1.14 and a beta of 1.38. The business’s fifty day simple moving average is $132.96 and its 200 day simple moving average is $124.21. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.98 and a quick ratio of 0.98.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Thursday, October 17th. The bank reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.05. Signature Bank had a net margin of 31.37% and a return on equity of 13.09%. The firm had revenue of $334.00 million during the quarter, compared to the consensus estimate of $339.14 million. During the same quarter in the previous year, the company posted $2.84 earnings per share. As a group, equities analysts forecast that Signature Bank will post 10.82 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in SBNY. Pinebridge Investments L.P. bought a new stake in shares of Signature Bank in the 2nd quarter valued at approximately $73,000. Commonwealth Bank of Australia grew its stake in shares of Signature Bank by 21.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 728 shares of the bank’s stock valued at $87,000 after buying an additional 131 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Signature Bank by 174.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,313 shares of the bank’s stock valued at $157,000 after buying an additional 834 shares in the last quarter. Ingalls & Snyder LLC bought a new stake in shares of Signature Bank in the 4th quarter valued at approximately $201,000. Finally, MML Investors Services LLC grew its stake in shares of Signature Bank by 12.9% in the 2nd quarter. MML Investors Services LLC now owns 1,771 shares of the bank’s stock valued at $214,000 after buying an additional 202 shares in the last quarter. 90.91% of the stock is owned by institutional investors.

About Signature Bank (NASDAQ:SBNY)

Signature Bank provides various business and personal banking products and services. 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.

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