In a report released today, Michael Diana from Maxim Group reiterated a Buy rating on Signature Bank (SBNY), with a price target of $190. The company’s shares closed yesterday at $121.32.
Diana commented:
“SBNY reported 4Q18 EPS of $2.94, versus consensus of $2.80. It was a strong quarter on all fronts, in our view, with powerful loan growth, a wider net interest margin (NIM), lower loan loss provisioning, higher non-interest income, and contained expenses.”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 4.5% and a 55.6% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
Signature Bank has an analyst consensus of Moderate Buy, with a price target consensus of $134, which is a 10.5% upside from current levels. In a report issued on January 10, Barclays also maintained a Buy rating on the stock with a $137 price target.
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Signature Bank’s market cap is currently $6.72B and has a P/E ratio of 14.43. The company has a Price to Book ratio of 1.59.
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Signature Bank engages in the provision of commercial bank services. It operates through the Commercial Banking and Specialty Finance business segments. The Commercial Banking segment offers commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities.
