Signature Bank [NASDAQ: SBNY] stock went on a downward path that fall over -12.18% on Thursday, amounting to a one-week price decrease of less than -17.16%. The company report on March 9, 2023 that Signature Bank Issues Updated Financial Figures as of March 8, 2023; Reiterates Strong Financial Position and Limited Digital-Asset Related Deposit Balances in Wake of Industry Developments.
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Signature Bank Announces Buyback of Common Shares.
Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today updated financial figures as of March 8, 2023 and reiterated its strong, well-diversified financial position and limited digital-asset related deposit balances in the wake of industry developments.
Over the last 12 months, SBNY stock dropped by -68.23%. The one-year Signature Bank stock forecast points to a potential upside of 40.29. The average equity rating for SBNY stock is currently 2.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $5.50 billion, with 62.44 million shares outstanding and 62.00 million shares in the current float. Compared to the average trading volume of 1.25M shares, SBNY stock reached a trading volume of 8472813 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Signature Bank [SBNY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SBNY shares is $152.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SBNY stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stephens have made an estimate for Signature Bank shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on January 18, 2023. The new note on the price target was released on January 09, 2023, representing the official price target for Signature Bank stock. On December 05, 2022, analysts decreased their price target for SBNY shares from 223 to 152.
The Average True Range (ATR) for Signature Bank is set at 6.13, with the Price to Sales ratio for SBNY stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 0.74, with the Price to Cash per share for the same quarter was set at 191.09. Price to Free Cash Flow for SBNY in the course of the last twelve months was 28.92.
SBNY Stock Performance Analysis:
Signature Bank [SBNY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.16. With this latest performance, SBNY shares dropped by -34.58% in over the last four-week period, additionally sinking by -48.25% over the last 6 months – not to mention a drop of -68.23% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SBNY stock in for the last two-week period is set at 23.44, with the RSI for the last a single of trading hit 16.33, and the three-weeks RSI is set at 29.02 for Signature Bank [SBNY]. The present Moving Average for the last 50 days of trading for this stock 120.97, while it was recorded at 104.72 for the last single week of trading, and 155.90 for the last 200 days.
Insight into Signature Bank Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Signature Bank [SBNY] shares currently have an operating margin of +47.36. Signature Bank’s Net Margin is presently recorded at +36.05.
Return on Equity for this stock inclined to 16.86, with Return on Assets sitting at 1.17.
SBNY Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SBNY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Signature Bank go to 6.32%.
Signature Bank [SBNY] Insider Position Details
There are presently around $5,570 million, or 96.10% of SBNY stock, in the hands of institutional investors. The top three institutional holders of SBNY stocks are: VANGUARD GROUP INC with ownership of 7,291,217, which is approximately 1.665% of the company’s market cap and around 0.20% of the total institutional ownership; CAPITAL INTERNATIONAL INVESTORS, holding 4,869,007 shares of the stock with an approximate value of $441.91 million in SBNY stocks shares; and BLACKROCK INC., currently with $426.39 million in SBNY stock with ownership of nearly 1.953% of the company’s market capitalization.
Positions in Signature Bank stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 273 institutional holders increased their position in Signature Bank [NASDAQ:SBNY] by around 8,653,134 shares. Additionally, 268 investors decreased positions by around 7,092,818 shares, while 47 investors held positions by with 45,622,633 shares. The mentioned changes placed institutional holdings at 61,368,585 shares, according to the latest SEC report filing. SBNY stock had 81 new institutional investments in for a total of 669,729 shares, while 91 institutional investors sold positions of 2,062,155 shares during the same period.