(Nasdaq:SBNY) Signature Bank Lowers The 52 Week Low

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Signature Bank (Nasdaq:SBNY)

July 27th, 2018

Amidst falling markets Signature Bank fell $1.49 Friday, down 1.31%, closing at $111.87. As well as the drop in value, Signature Bank hit a new 52 week low of $111.40, breaking the previous low of $112.37 from earlier this month.

SBNY was outperformed by the rest of the Financials sector which went up 0.24%.

Expectations from 19 analysts indicates that Signature Bank could rise significantly (31%), while Finbox has calculated (with very high uncertainty) a fair value price of $133.91.

Signature Bank Info

Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products. The company also offers loan products comprising commercial and industrial loans; real estate loans, such as loans secured by commercial and residential properties, and construction and land loans; temporary financing for commercial and residential properties; letters of credit; and personal lines of credit and loans to acquire personal assets, as well as asset-based lending, mortgages, home equity loans, and credit card accounts. In addition, it provides investment, brokerage, and asset management products and services; retirement products, such as individual retirement accounts and administrative services for retirement vehicles, which include pension, profit sharing, and 401(k) plans to its clients, as well as business retirement accounts; and a range of financing and leasing products consisting of equipment, transportation, taxi medallion, commercial marine, commercial vehicle, financing, and national franchise financing services. Further, the company offers wealth management services to its high net worth personal clients; and a range of individual and group insurance products that comprise health, life, disability, and long-term care insurance products as an agent. Additionally, it purchases, securitizes, and sells guaranteed portions of the U.S. small business administration loans. As of January 19, 2017, the company operated 30 private client offices located in the New York metropolitan area, which included Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island, and Connecticut. Signature Bank was incorporated in 2000 and is headquartered in New York, New York.

All amounts in USD unless otherwise indicated

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