Equities research analysts forecast that Signature Bank (NASDAQ:SBNY) will report $2.67 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Eighteen analysts have issued estimates for Signature Bank’s earnings, with the lowest EPS estimate coming in at $2.45 and the highest estimate coming in at $2.80. Signature Bank reported earnings per share of $2.15 in the same quarter last year, which suggests a positive year over year growth rate of 24.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 18th.
According to Zacks, analysts expect that Signature Bank will report full year earnings of $11.13 per share for the current year, with EPS estimates ranging from $10.44 to $11.63. For the next year, analysts anticipate that the business will post earnings of $12.01 per share, with EPS estimates ranging from $11.25 to $13.45. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Signature Bank.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.20. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. The firm had revenue of $328.27 million during the quarter, compared to analyst estimates of $321.86 million. During the same quarter in the previous year, the company posted $2.11 earnings per share.
Several brokerages have issued reports on SBNY. BMO Capital Markets lifted their price target on Signature Bank to $192.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Maxim Group lifted their price target on Signature Bank from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Stephens reaffirmed a “buy” rating on shares of Signature Bank in a research note on Friday, January 19th. Wells Fargo & Co reissued an “outperform” rating and issued a $150.00 target price (up previously from $137.00) on shares of Signature Bank in a research note on Tuesday, January 9th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $149.00 target price on shares of Signature Bank in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $158.56.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBNY. Steward Partners Investment Advisory LLC purchased a new position in Signature Bank during the 3rd quarter valued at about $115,000. Zions Bancorporation purchased a new position in Signature Bank during the 3rd quarter valued at about $152,000. Calton & Associates Inc. purchased a new position in Signature Bank during the 4th quarter valued at about $222,000. Rockefeller Financial Services Inc. purchased a new position in Signature Bank during the 3rd quarter valued at about $192,000. Finally, Fox Run Management L.L.C. purchased a new position in Signature Bank during the 4th quarter valued at about $223,000. 96.87% of the stock is owned by institutional investors.
Shares of Signature Bank (NASDAQ SBNY) traded up $0.29 during mid-day trading on Friday, reaching $154.79. The company’s stock had a trading volume of 329,900 shares, compared to its average volume of 381,581. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.95 and a current ratio of 0.97. Signature Bank has a 52-week low of $116.68 and a 52-week high of $163.98. The company has a market capitalization of $8,510.20, a price-to-earnings ratio of 21.68, a P/E/G ratio of 1.29 and a beta of 1.10.
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Signature Bank Company Profile
Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.
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