Signature Bank (SBNY) Gets a Buy Rating from Wells Fargo

In a report released yesterday, Jared Shaw from Wells Fargo maintained a Buy rating on Signature Bank (SBNYResearch Report), with a price target of $435.00. The company’s shares closed last Tuesday at $319.00.

According to TipRanks.com, Shaw is a 4-star analyst with an average return of 7.3% and a 54.4% success rate. Shaw covers the Financial sector, focusing on stocks such as Bank of NT Butterfield & Son, First Interstate Bancsystem, and Pinnacle Financial Partners.

Currently, the analyst consensus on Signature Bank is a Strong Buy with an average price target of $438.57, which is a 38.1% upside from current levels. In a report issued on March 14, Piper Sandler also maintained a Buy rating on the stock with a $375.00 price target.

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The company has a one-year high of $374.76 and a one-year low of $206.07. Currently, Signature Bank has an average volume of 866K.

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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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