Wells Fargo Believes Signature Bank (SBNY) Won’t Stop Here

Wells Fargo analyst Jared Shaw maintained a Buy rating on Signature Bank (SBNY) yesterday. The company’s shares closed last Monday at $135.94, close to its 52-week high of $148.64.

According to TipRanks.com, Shaw is a 2-star analyst with an average return of 1.0% and a 54.4% 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 Strong Buy, with a price target consensus of $137.09.

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Signature Bank’s market cap is currently $7.25B and has a P/E ratio of 14.20. The company has a Price to Book ratio of 1.45.

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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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