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Wells Fargo Believes Signature Bank (SBNY) Won’t Stop Here

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Wells Fargo analyst Jared Shaw maintained a Buy rating on Signature Bank (SBNYResearch Report) today and set a price target of $400.00. The company’s shares closed last Tuesday at $335.89, close to its 52-week high of $342.03.

According to TipRanks.com, Shaw is a 4-star analyst with an average return of 7.8% and a 56.5% success rate. Shaw covers the Financial sector, focusing on stocks such as Bank of NT Butterfield & Son, First Interstate Bancsystem, and Pinnacle Financial Partners.

Signature Bank has an analyst consensus of Strong Buy, with a price target consensus of $391.00, representing a 17.9% upside. In a report issued on December 21, Compass Point also maintained a Buy rating on the stock with a $420.00 price target.

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Signature Bank’s market cap is currently $18.86B and has a P/E ratio of 23.47.

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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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