Wells Fargo Sticks to Its Buy Rating for Signature Bank (SBNY)


In a report released today, Jared Shaw from Wells Fargo maintained a Buy rating on Signature Bank (SBNY). The company’s shares closed last Monday at $104.94.

According to TipRanks.com, Shaw is a 1-star analyst with an average return of -0.9% and a 47.9% success rate. Shaw covers the Financial sector, focusing on stocks such as First Interstate Bancsystem, Associated Banc-Corp, and First Republic Bank.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Signature Bank with a $120.80 average price target.

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The company has a one-year high of $148.64 and a one-year low of $68.98. Currently, Signature Bank has an average volume of 520.2K.

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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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