Morgan Stanley Believes Signature Bank (SBNY) Won’t Stop Here
Morgan Stanley analyst Ken Zerbe maintained a Buy rating on Signature Bank (SBNY) today and set a price target of $170.00. The company’s shares closed last Thursday at $146.06, close to its 52-week high of $148.64.
According to TipRanks.com, Zerbe is a 4-star analyst with an average return of 10.3% and a 58.0% success rate. Zerbe covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, People’s United Financial, and Valley National Bancorp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Signature Bank with a $142.50 average price target, which is a -1.7% downside from current levels. In a report issued on January 4, Wells Fargo also maintained a Buy rating on the stock.
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Signature Bank’s market cap is currently $7.25B and has a P/E ratio of 14.30. The company has a Price to Book ratio of 1.46.
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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.