Signature Reaches New 52-Week High (SBNY)

NEW YORK ( TheStreet) -- Signature Bank (Nasdaq: SBNY) hit a new 52-week high Friday as it is currently trading at $64.62, above its previous 52-week high of $64.51 with 110,266 shares traded as of 9:30 a.m. ET. Average volume has been 501,500 shares over the past 30 days.

Signature has a market cap of $2.48 billion and is part of the financial sector and banking industry. Shares are up 7.2% year to date as of the close of trading on Thursday.

Signature Bank, together with its subsidiaries, engages in the provision of business and personal banking products and services. The company has a P/E ratio of 18.6, below the average banking industry P/E ratio of 21.8 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Signature as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins, impressive record of earnings per share growth, compelling growth in net income 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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