Wells Fargo Sticks to Its Buy Rating for Signature Bank (SBNY)

By Austin Angelo

In a report released today, Jared Shaw from Wells Fargo maintained a Buy rating on Signature Bank (SBNYResearch Report). The company’s shares opened today at $133.94.

According to TipRanks.com, Shaw is a 3-star analyst with an average return of 4.3% and a 61.0% success rate. Shaw covers the Financial sector, focusing on stocks such as First Interstate Bancsystem, Pinnacle Financial Partners, and People’s United Financial.

Currently, the analyst consensus on Signature Bank is a Strong Buy with an average price target of $143.80.

See today’s analyst top recommended stocks >>

Based on Signature Bank’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $161 million. In comparison, last year the company had a net profit of $115 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Signature Bank engages in the provision of commercial bank services. It operates through the Commercial Banking and Specialty Finance business segments. The Commercial Banking segment offers commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities.