NEW YORK (

TheStreet

) --

Signature Bank

(Nasdaq:

SBNY

) hit a new 52-week high Friday as it traded at $56.46 compared with its previous 52-Week high of $56.37. Signature is changing hands at $56.45 with 145,081 shares traded as of 1:31 p.m. ET. Average volume has been 219,400 shares over the past 30 days.

Signature has a market cap of $2.2 billion and is part of the

financial

sector and

banking

industry. Shares are up 8% year to date as of the close of trading on Thursday.

Signature Bank provides business and personal banking products and services in the New York metropolitan area. The company has a P/E ratio of 22, below the average banking industry P/E ratio of 41.5 and above the S&P 500 P/E ratio of 16.

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TheStreet Ratings rates Signature as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full

Signature Ratings Report

.

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