Signature Bank (NASDAQ:SBNY) Growth Should Continue Through 2012

While unsure of the ability of Signature Bank (NASDAQ:SBNY) to maintain its pace of growth, Barclays says they believe EPS growth can come in at 29 percent in 2011 and 19 percent in 2012.

Barclays commented, "Though we were previously more cautious on SBNY's ability to continue its rapid growth, we now see EPS growth of 29% and 19% in 2011 and 2012 as reasonable possibilities. We are updating our 2011 EPS estimate to $3.17 and introducing a 2012 estimate of $3.75 with expectations for 11% and 8% asset growth in 2011 and 2012, respectively...However, we remain neutral on the stock, given its relatively full valuation at current levels and the high growth expectations already built into the share price."

Barclays reiterates an "Equalweight" rating on Signature Bank (SBNY), which closed Wednesday at $53.55, falling $0.22, or 0.41 percent. Barclays raised their price target on Signature from $50 to $55.