The stock of Signature Bank (NASDAQ:SBNY) is a huge mover today! About 1.49 million shares traded hands or 154.50% up from the average. Signature Bank (NASDAQ:SBNY) has declined 2.28% since April 8, 2016 and is downtrending. It has underperformed by 7.92% the S&P500.
The move comes after 6 months positive chart setup for the $8.03B company. It was reported on Nov, 10 by Barchart.com. We have $218.75 PT which if reached, will make NASDAQ:SBNY worth $4.58 billion more.
Signature Bank (NASDAQ:SBNY) Ratings Coverage
Out of 12 analysts covering Signature Bank (NASDAQ:SBNY), 9 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 75% are positive. Signature Bank has been the topic of 27 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The company was downgraded on Tuesday, September 8 by Zacks. The rating was maintained by FBR Capital with “Outperform” on Friday, October 21. The stock of Signature Bank (NASDAQ:SBNY) has “Outperform” rating given on Friday, April 1 by Merion Capital Group. RBC Capital Markets initiated Signature Bank (NASDAQ:SBNY) on Wednesday, September 30 with “Outperform” rating. As per Wednesday, September 2, the company rating was upgraded by Zacks. The firm earned “Neutral” rating on Tuesday, May 31 by Piper Jaffray. BMO Capital Markets downgraded the shares of SBNY in a report on Friday, October 21 to “Market Perform” rating. The firm earned “Strong Buy” rating on Tuesday, June 21 by Raymond James. The company was upgraded on Thursday, August 27 by Zacks. The company was maintained on Friday, October 9 by Barclays Capital.
According to Zacks Investment Research, “Signature Bank is a full service commercial bank with ten private client offices located in the New York metropolitan area serving the needs of privately owned business clients and their owners and senior managers. The bank offers a wide variety of business and personal banking products and services through the bank as well as investment, brokerage, asset management and insurance products and services through its subsidiary, Signature Securities Group Corporation, a licensed broker-dealer and investment adviser.”
More recent Signature Bank (NASDAQ:SBNY) news were published by: Businesswire.com which released: “Signature Bank to Participate in the Bank of America Merrill Lynch 2016 Future …” on November 08, 2016. Also Businesswire.com published the news titled: “Signature Bank Reports 2016 Third Quarter Results” on October 20, 2016. Businesswire.com‘s news article titled: “Signature Bank to Host 2016 Third Quarter Results Conference Call” with publication date: October 17, 2016 was also an interesting one.
SBNY Company Profile
Signature Bank (the Bank), incorporated in September 2000, is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area, including those in Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island and Connecticut. The Bank offers a range of business and personal banking services and products. The Company’s specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing. Signature Securities Group Corporation (Signature Securities), a Bank subsidiary, is a licensed broker-dealer, investment advisor and member of Financial Industry Regulatory Authority/Securities Investor Protection Corporation (FINRA/SIPC), offering investment, brokerage, asset management and insurance services and products. The Company’s deposits total over $26.77 billion. The Company’s loans and non-accrual loans total over $23.79 billion and over $71.9 million respectively.
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