Analysts predict that Signature Bank (NASDAQ:SBNY) will report earnings of $2.23 per share for the current fiscal quarter, Zacks reports. Sixteen analysts have made estimates for Signature Bank’s earnings, with estimates ranging from $2.15 to $2.30. Signature Bank posted earnings per share of $1.90 during the same quarter last year, which indicates a positive year-over-year growth rate of 17.4%. The company is expected to issue its next quarterly earnings report on Wednesday, July 19th.
According to Zacks, analysts expect that Signature Bank will report full year earnings of $9.21 per share for the current year, with EPS estimates ranging from $8.90 to $9.58. For the next financial year, analysts forecast that the firm will post earnings of $10.53 per share, with EPS estimates ranging from $10.15 to $11.65. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Signature Bank.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Wednesday, April 19th. The bank reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.05. Signature Bank had a return on equity of 12.37% and a net margin of 30.53%. The firm had revenue of $311.63 million during the quarter, compared to the consensus estimate of $311.70 million. During the same period last year, the business posted $1.97 EPS.
SBNY has been the subject of a number of research analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $175.00 target price on shares of Signature Bank in a research report on Thursday, May 25th. Bank of America Corporation reaffirmed a “buy” rating and issued a $175.00 price target on shares of Signature Bank in a report on Thursday, May 25th. ValuEngine raised Signature Bank from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. Keefe, Bruyette & Woods set a $164.00 price target on Signature Bank and gave the company a “buy” rating in a report on Monday, April 3rd. Finally, Deutsche Bank AG dropped their price target on Signature Bank from $181.00 to $178.00 and set a “buy” rating on the stock in a report on Friday, March 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Signature Bank has a consensus rating of “Buy” and a consensus price target of $169.42.
A number of hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Signature Bank by 12.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 842 shares of the bank’s stock valued at $126,000 after buying an additional 96 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Signature Bank during the first quarter valued at about $127,000. Israel Discount Bank of New York purchased a new stake in shares of Signature Bank during the first quarter valued at about $148,000. Israel Discount Bank of New York GFN purchased a new stake in shares of Signature Bank during the fourth quarter valued at about $150,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Signature Bank by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,440 shares of the bank’s stock valued at $200,000 after buying an additional 65 shares during the period. 96.80% of the stock is currently owned by institutional investors.
Signature Bank (NASDAQ SBNY) traded down 1.48% during trading on Wednesday, reaching $144.07. The company had a trading volume of 732,443 shares. The company has a 50-day moving average of $142.67 and a 200-day moving average of $149.30. Signature Bank has a 52-week low of $113.53 and a 52-week high of $164.23. The firm has a market capitalization of $7.78 billion, a P/E ratio of 18.28 and a beta of 0.93.
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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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