Equities Analysts Offer Predictions for Signature Bank’s Q1 2019 Earnings (SBNY)

Signature Bank (NASDAQ:SBNY) – Equities research analysts at Jefferies Financial Group lowered their Q1 2019 earnings per share (EPS) estimates for shares of Signature Bank in a report released on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now expects that the bank will post earnings of $2.69 per share for the quarter, down from their prior forecast of $2.78. Jefferies Financial Group also issued estimates for Signature Bank’s Q2 2019 earnings at $2.78 EPS and FY2019 earnings at $11.40 EPS.

A number of other research analysts have also recently weighed in on the company. BidaskClub raised Signature Bank from a “sell” rating to a “hold” rating in a research report on Thursday. Hovde Group cut Signature Bank from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 2nd. Wedbush raised Signature Bank from a “neutral” rating to an “outperform” rating and set a $102.56 price target on the stock in a report on Friday, December 21st. ValuEngine raised Signature Bank from a “strong sell” rating to a “sell” rating in a report on Saturday, November 10th. Finally, UBS Group raised Signature Bank from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $122.00 to $138.00 in a report on Monday, November 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $139.74.

SBNY stock opened at $109.24 on Friday. Signature Bank has a twelve month low of $98.54 and a twelve month high of $161.92. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market cap of $6.10 billion, a PE ratio of 12.26, a P/E/G ratio of 0.91 and a beta of 1.06.

Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Thursday, October 18th. The bank reported $2.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.83 by $0.01. Signature Bank had a return on equity of 14.34% and a net margin of 27.66%. The firm had revenue of $329.34 million for the quarter, compared to analysts’ expectations of $331.77 million. During the same period in the previous year, the firm earned $2.29 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis.

Large investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC lifted its stake in shares of Signature Bank by 48.0% during the 4th quarter. Cerebellum GP LLC now owns 2,344 shares of the bank’s stock worth $241,000 after purchasing an additional 760 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Signature Bank by 2.0% during the 3rd quarter. Vanguard Group Inc now owns 4,726,790 shares of the bank’s stock worth $542,823,000 after purchasing an additional 94,200 shares during the last quarter. Federated Investors Inc. PA lifted its stake in shares of Signature Bank by 789.2% during the 3rd quarter. Federated Investors Inc. PA now owns 193,961 shares of the bank’s stock worth $22,274,000 after purchasing an additional 172,149 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Signature Bank by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,726,790 shares of the bank’s stock worth $542,823,000 after purchasing an additional 94,200 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Signature Bank by 6.8% during the 3rd quarter. Legal & General Group Plc now owns 108,785 shares of the bank’s stock worth $12,493,000 after purchasing an additional 6,960 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.

About Signature Bank

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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Earnings History and Estimates for Signature Bank (NASDAQ:SBNY)

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