Wells Fargo analyst Jared Shaw maintained a Buy rating on Signature Bank (SBNY) today. The company’s shares closed last Thursday at $90.52.
According to TipRanks.com, Shaw is a 2-star analyst with an average return of -2.2% and a 47.1% success rate. Shaw covers the Financial sector, focusing on stocks such as First Interstate Bancsystem, Pinnacle Financial Partners, and People’s United Financial.
Currently, the analyst consensus on Signature Bank is a Strong Buy with an average price target of $123.50.
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Based on Signature Bank’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $346 million and net profit of $148 million. In comparison, last year the company earned revenue of $341 million and had a net profit of $161 million.
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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.
