Signature Bank (SBNY) Receives a Buy from Wedbush

Wedbush analyst David Chiaverini maintained a Buy rating on Signature Bank (SBNYResearch Report) today and set a price target of $145.00. The company’s shares closed today at $121.25.

Chiaverini covers the Financial sector, focusing on stocks such as Silvergate Capital, Signature Bank, and SoFi Technologies. According to TipRanks, Chiaverini has an average return of 1.5% and a 43.72% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Signature Bank with a $155.09 average price target, representing a 27.91% upside. In a report released on January 11, Compass Point also maintained a Buy rating on the stock with a $150.00 price target.

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SBNY market cap is currently $7.45B and has a P/E ratio of 5.78.

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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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