Equities research analysts at Merrill Lynch raised their price target on shares of Signature Bank (NASDAQ: SBNY) from $85.00 to $90.00 in a research note issued to investors on Tuesday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Merrill Lynch’s target price would suggest a potential upside of 5.88% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of Signature Bank from $81.00 to $85.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Guggenheim raised their price target on shares of Signature Bank from $89.00 to $95.00 in a research note to investors on Wednesday, June 26th. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets reiterated a “buy” rating on shares of Signature Bank in a research note to investors on Tuesday, June 25th. They now have a $90.00 price target on the stock.
Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $86.91.
Signature Bank (NASDAQ: SBNY) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.06 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.04 by $0.02. During the same quarter last year, the company posted $0.90 earnings per share.
Signature Bank (NASDAQ: SBNY) is a full-service commercial bank with 24 private client offices located in the New York metropolitan area serving the needs of privately owned business clients and their owners and senior managers.