Compass Point analyst Dave Rochester maintained a Buy rating on Signature Bank (SBNY) on May 12 and set a price target of $117.00. The company’s shares closed last Wednesday at $88.17.
Rochester has an average return of 7.0% when recommending Signature Bank.
According to TipRanks.com, Rochester is ranked #158 out of 6532 analysts.
Signature Bank has an analyst consensus of Strong Buy, with a price target consensus of $112.40, a 17.7% upside from current levels. In a report issued on May 6, Morgan Stanley also maintained a Buy rating on the stock with a $133.00 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 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.
