Signature Bank (SBNY) Receives a Hold from Wedbush


In a report released today, David Chiaverini from Wedbush maintained a Hold rating on Signature Bank (SBNY), with a price target of $101.00. The company’s shares closed last Friday at $91.50.

According to TipRanks.com, Chiaverini is a 4-star analyst with an average return of 3.6% and a 51.1% success rate. Chiaverini covers the Financial sector, focusing on stocks such as First Republic Bank, East West Bancorp, and First Foundation.

Currently, the analyst consensus on Signature Bank is a Strong Buy with an average price target of $113.88, representing a 21.4% upside. In a report released today, D.A. Davidson also maintained a Hold rating on the stock with a $100.00 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.

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