Media stories about Signature Bank (NASDAQ:SBNY) have been trending somewhat positive on Sunday, according to Accern Sentiment. The research firm identifies positive and negative press coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Signature Bank earned a daily sentiment score of 0.13 on Accern’s scale. Accern also assigned news articles about the bank an impact score of 47.4761797623505 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the news stories that may have effected Accern Sentiment Analysis’s rankings:
Signature Bank (NASDAQ SBNY) opened at 133.19 on Friday. The firm has a market capitalization of $7.21 billion, a P/E ratio of 21.34 and a beta of 0.96. Signature Bank has a one year low of $116.68 and a one year high of $164.23. The firm has a 50-day moving average price of $125.95 and a 200 day moving average price of $135.04.
Signature Bank (NASDAQ:SBNY) last announced its earnings results on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.10. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. The business had revenue of $316.94 million during the quarter, compared to analysts’ expectations of $322.22 million. During the same quarter in the prior year, the company posted $2.11 earnings per share. Equities research analysts anticipate that Signature Bank will post $7.25 earnings per share for the current year.
A number of brokerages have weighed in on SBNY. BidaskClub raised Signature Bank from a “sell” rating to a “hold” rating in a report on Sunday, July 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $166.00 price objective (down previously from $170.00) on shares of Signature Bank in a report on Friday, July 7th. Barclays PLC reaffirmed an “overweight” rating and issued a $170.00 price objective (down previously from $175.00) on shares of Signature Bank in a report on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $158.00 price objective on shares of Signature Bank in a report on Friday, July 14th. Finally, Maxim Group reissued a “buy” rating and set a $175.00 price target on shares of Signature Bank in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $154.80.
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About Signature Bank
Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.
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