Morgan Stanley Thinks Signature Bank’s Stock is Going to Recover


Morgan Stanley analyst Ken Zerbe maintained a Buy rating on Signature Bank (SBNY) today and set a price target of $130.00. The company’s shares closed last Monday at $76.22, close to its 52-week low of $68.99.

According to TipRanks.com, Zerbe is a 1-star analyst with an average return of -7.4% and a 46.7% success rate. Zerbe covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, People’s United Financial, and Valley National Bancorp.

Signature Bank has an analyst consensus of Moderate Buy, with a price target consensus of $151.71, representing a 99.0% upside. In a report issued on March 30, Wells Fargo also maintained a Buy rating on the stock.

See today’s analyst top recommended stocks >>

The company has a one-year high of $148.64 and a one-year low of $68.99. Currently, Signature Bank has an average volume of 534.1K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts