Morgan Stanley Maintains Signature Bank to Overweight with Price Target $152.00

Brokerage firm Morgan Stanley Maintains its rating on Signature Bank(NASDAQ:SBNY). In a research note issued to the investors, the brokerage major Lowers the price-target to $152.00 per share. The shares have been rated Overweight. The rating by Morgan Stanley was issued on Aug 1, 2016.

In a different note, On Jul 7, 2016, JP Morgan said it Maintains its rating on Signature Bank. In the research note, the firm Lowers the price-target to $164.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jun 21, 2016, Raymond James said it Upgrades its rating on Signature Bank. The shares have been rated ‘Strong Buy’ by the firm. On May 31, 2016, Piper Jaffray said it Downgrades its rating on Signature Bank. The shares have been rated ‘Neutral’ by the firm.

Signature Bank (SBNY) shares turned negative on Mondays trading session with the shares closing down -3.57 points or -2.88% at a volume of 5,74,518. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $124.93. The peak price level was also seen at $124.93 while the days lowest was $120.48. Finally the shares closed at $120.56. The 52-week high of the shares is $163.149 while the 52-week low is $114.36. According to the latest information available, the market cap of the company is $6,472 M.

Signature Bank(SBNY) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $294.79M. Analysts had an estimated revenue of $295.34M. Earnings per share were $1.85. Analysts had estimated an EPS of $1.97.

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.

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