Shares of Signature Bank of New York, N.Y, closed at $61.01 Tuesday, returning 2% year-to-date, following a 20% total return during 2011. The five-year total return was 87%.
The company had $15.3 billion in total assets as of March 31.The shares trade for 1.9 times tangible book value, and for 14.5 times the consensus 2013 EPS estimate of $4.21. The consensus 2012 EPS estimate is $3.67. Signature Bank's ROA has ranged from 1.13% to 1.23% over the past five quarters. Guggenheim analyst David Darst on Tuesday upgraded Signature Bank to a "Buy" rating from a neutral rating, with a price target of $71, "given its attractive valuation and catalysts for continued robust organic growth driven by core business and the new specialty and
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