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
commercial and industrial
lending teams hired in 1Q12."
Darst said that "25-30% loan growth in 2012 and 2013 is attainable given recent
commercial real estate
volume and the addition of specialty lending and C&I teams."
The analyst expects that Signature Bank's "EPS will grow at a 21% three-year
compound annual growth rate
from 2011 to 2013," and that the company will earn $3.71 a share this year, followed by 2013 EPS of $4.35.
Interested in more on Signature Bank? See TheStreet Ratings' report card for this stock.
>>To see these stocks in action, visit the
3 A-Rated Bank Stocks
portfolio on Stockpickr.
Written by Philip van Doorn in Jupiter, Fla.
To contact the writer, click here:
Philip van Doorn
To follow the writer on Twitter, go to
To submit a news tip, send an email to: