Signature Bank (SBNY) Gets a Buy Rating from Morgan Stanley


Morgan Stanley analyst Ken Zerbe maintained a Buy rating on Signature Bank (SBNY) today and set a price target of $152.00. The company’s shares closed last Monday at $87.89, close to its 52-week low of $84.00.

According to TipRanks.com, Zerbe is a 1-star analyst with an average return of -6.4% and a 45.9% 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 Moderate Buy analyst consensus rating for Signature Bank with a $156.13 average price target, implying an 85.9% upside from current levels. In a report issued on March 6, Wells Fargo also maintained a Buy rating on the stock with a $165.00 price target.

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Based on Signature Bank’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $148 million. In comparison, last year the company had a net profit of $160 million.

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Signature Bank engages in the provision of commercial banking 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.

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