Signature Bank (SBNY) Set to Announce Quarterly Earnings on Tuesday
Signature Bank (NASDAQ:SBNY) will be announcing its earnings results before the market opens on Tuesday, October 18th. Analysts expect the company to announce earnings of $2.04 per share for the quarter.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.97 by $0.07. Signature Bank had a return on equity of 12.89% and a net margin of 32.08%. During the same period in the previous year, the business earned $1.77 earnings per share. On average, analysts expect Signature Bank to post $8.01 EPS for the current fiscal year and $9.15 EPS for the next fiscal year.
Shares of Signature Bank (NASDAQ:SBNY) opened at 117.35 on Monday. The stock has a 50 day moving average price of $118.68 and a 200 day moving average price of $126.75. Signature Bank has a 1-year low of $114.01 and a 1-year high of $163.15. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 15.19 and a beta of 0.91.
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SBNY has been the topic of several research reports. Zacks Investment Research lowered shares of Signature Bank from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Barclays PLC raised shares of Signature Bank from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $150.00 to $139.00 in a report on Wednesday, September 28th. Raymond James Financial Inc. raised shares of Signature Bank from an “outperform” rating to a “strong-buy” rating and set a $162.00 price objective on the stock in a report on Tuesday, June 21st. Jefferies Group reaffirmed a “buy” rating and issued a $155.00 price target on shares of Signature Bank in a report on Thursday, July 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Signature Bank in a report on Wednesday, June 29th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $156.75.
A number of hedge funds and other institutional investors have recently bought and sold shares of SBNY. American International Group Inc. increased its position in Signature Bank by 0.6% in the second quarter. American International Group Inc. now owns 103,701 shares of the company’s stock worth $12,954,000 after buying an additional 640 shares in the last quarter. Parsons Capital Management Inc. RI acquired a new position in Signature Bank during the second quarter worth about $250,000. Comerica Bank increased its position in Signature Bank by 3.7% in the second quarter. Comerica Bank now owns 37,689 shares of the company’s stock worth $4,534,000 after buying an additional 1,331 shares in the last quarter. Quadrature Capital Ltd increased its position in Signature Bank by 127.4% in the second quarter. Quadrature Capital Ltd now owns 5,115 shares of the company’s stock worth $639,000 after buying an additional 2,866 shares in the last quarter. Finally, GAM Holding AG increased its position in Signature Bank by 69.9% in the second quarter. GAM Holding AG now owns 2,275 shares of the company’s stock worth $284,000 after buying an additional 936 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.
About Signature Bank
Signature Bank (the Bank) is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area, including those in Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island and Connecticut. The Bank offers a range of business and personal banking products and services.
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