Signature Bank (SBNY) Gets a Buy Rating from Wells Fargo


Wells Fargo analyst Jared Shaw maintained a Buy rating on Signature Bank (SBNY) today. The company’s shares closed last Friday at $85.29.

According to TipRanks.com, Shaw is a 2-star analyst with an average return of -0.4% and a 50.8% success rate. Shaw covers the Financial sector, focusing on stocks such as First Interstate Bancsystem, Pinnacle Financial Partners, and People’s United Financial.

Signature Bank has an analyst consensus of Moderate Buy, with a price target consensus of $154.86, implying a 75.7% upside from current levels. In a report issued on March 17, Morgan Stanley also maintained a Buy rating on the stock with a $152.00 price target.

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The company has a one-year high of $148.64 and a one-year low of $69.49. Currently, Signature Bank has an average volume of 506.7K.

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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.

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