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Jefferies Keeps Their Buy Rating on Signature Bank (SBNY)

Jefferies analyst Ken Usdin maintained a Buy rating on Signature Bank (SBNYResearch Report) on January 19 and set a price target of $456.00. The company’s shares closed last Monday at $323.30.

According to TipRanks.com, Usdin is a top 25 analyst with an average return of 25.2% and a 77.7% success rate. Usdin covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, People’s United Financial, and Texas Capital Bancshares.

Signature Bank has an analyst consensus of Strong Buy, with a price target consensus of $436.80, a 36.1% upside from current levels. In a report issued on January 10, Morgan Stanley also initiated coverage with a Buy rating on the stock with a $475.00 price target.

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The company has a one-year high of $374.76 and a one-year low of $185.15. Currently, Signature Bank has an average volume of 974.5K.

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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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