Jefferies Maintains Their Buy Rating on Signature Bank (SBNY)
Jefferies analyst Casey Haire maintained a Buy rating on Signature Bank (SBNY) on April 22 and set a price target of $273.00. The company’s shares closed last Thursday at $253.54, close to its 52-week high of $260.37.
According to TipRanks.com, Haire is a 5-star analyst with an average return of 16.5% and a 70.3% success rate. Haire covers the Financial sector, focusing on stocks such as People’s United Financial, Texas Capital Bancshares, and Associated Banc-Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Signature Bank with a $289.21 average price target, an 11.8% upside from current levels. In a report issued on April 21, Raymond James also maintained a Buy rating on the stock with a $300.00 price target.
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The company has a one-year high of $260.37 and a one-year low of $71.45. Currently, Signature Bank has an average volume of 787K.
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Signature Bank engages in the provision of commercial bank services. It operates through the Commercial Banking and Specialty Finance segments. The Commercial Banking segment comprises of commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities. The Specialty Finance segment consists of financing and leasing products. The company was founded by John Tamberlane, Scott Aaron Shay, and Joseph J. DePaolo in September 2000 and is headquartered in New York, NY.