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Signature Bank (SBNY) Receives a Buy from Maxim Group

Maxim Group analyst Michael Diana reiterated a Buy rating on Signature Bank (SBNYResearch Report) yesterday and set a price target of $450.00. The company’s shares closed last Wednesday at $291.33.

According to TipRanks.com, Diana is a 5-star analyst with an average return of 14.6% and a 51.9% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Generation Income Properties, and Westamerica Bancorporation.

Currently, the analyst consensus on Signature Bank is a Strong Buy with an average price target of $408.60, representing a 40.1% upside. In a report released today, Wedbush also reiterated 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 $216.00. Currently, Signature Bank has an average volume of 923.7K.

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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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