Signature Bank (NASDAQ:SBNY) – Stock analysts at Keefe, Bruyette & Woods decreased their Q2 2018 earnings per share estimates for shares of Signature Bank in a research note issued on Wednesday, April 4th. Keefe, Bruyette & Woods analyst C. Mcgratty now forecasts that the bank will earn $2.70 per share for the quarter, down from their prior estimate of $2.73. Keefe, Bruyette & Woods has a “Buy” rating and a $181.00 price target on the stock.
Several other brokerages also recently commented on SBNY. Stephens reiterated a “buy” rating on shares of Signature Bank in a research note on Friday, January 19th. Maxim Group increased their target price on Signature Bank from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, January 19th. BMO Capital Markets raised their price target on Signature Bank to $192.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. UBS initiated coverage on Signature Bank in a research note on Wednesday, March 21st. They issued a “neutral” rating and a $163.00 price target on the stock. Finally, Barclays raised their price target on Signature Bank from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $159.75.
Shares of SBNY opened at $136.02 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10. Signature Bank has a 12 month low of $116.68 and a 12 month high of $161.92. The firm has a market cap of $7,478.24, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.13 and a beta of 1.10.
Signature Bank (NASDAQ:SBNY) last issued its earnings results on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, beating the 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 business had revenue of $328.27 million for the quarter, compared to the consensus estimate of $321.86 million. During the same period last year, the business posted $2.11 EPS.
Several hedge funds have recently added to or reduced their stakes in the company. Parnassus Investments CA raised its holdings in Signature Bank by 22.9% in the 4th quarter. Parnassus Investments CA now owns 1,610,000 shares of the bank’s stock worth $220,989,000 after purchasing an additional 300,000 shares during the period. CI Global Investments Inc. raised its holdings in Signature Bank by 176.8% in the 4th quarter. CI Global Investments Inc. now owns 920,249 shares of the bank’s stock worth $126,313,000 after purchasing an additional 587,749 shares during the period. Wedge Capital Management L L P NC raised its holdings in Signature Bank by 0.6% in the 4th quarter. Wedge Capital Management L L P NC now owns 796,843 shares of the bank’s stock worth $109,375,000 after purchasing an additional 5,049 shares during the period. Bank of New York Mellon Corp raised its holdings in Signature Bank by 1.1% in the 4th quarter. Bank of New York Mellon Corp now owns 692,753 shares of the bank’s stock worth $95,087,000 after purchasing an additional 7,338 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Signature Bank by 26.4% in the 4th quarter. Handelsbanken Fonder AB now owns 597,613 shares of the bank’s stock worth $82,028,000 after purchasing an additional 125,000 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.
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Signature Bank Company Profile
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.
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