Signature Bank (NASDAQ:SBNY) – Equities researchers at Jefferies Group lowered their Q3 2017 earnings per share (EPS) estimates for shares of Signature Bank in a report issued on Thursday. Jefferies Group analyst C. Haire now expects that the bank will post earnings per share of $2.22 for the quarter, down from their previous forecast of $2.29. Jefferies Group has a “Buy” rating and a $169.00 price objective on the stock. Jefferies Group also issued estimates for Signature Bank’s Q4 2017 earnings at $2.28 EPS and FY2018 earnings at $9.70 EPS.

Several other equities analysts also recently commented on SBNY. BidaskClub downgraded shares of Signature Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Wedbush reiterated an “outperform” rating and set a $165.00 target price on shares of Signature Bank in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods set a $164.00 target price on shares of Signature Bank and gave the stock a “buy” rating in a research note on Monday, April 3rd. Morgan Stanley restated an “overweight” rating and issued a $166.00 price objective (down previously from $170.00) on shares of Signature Bank in a research note on Friday, July 7th. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $157.00 price objective (down previously from $167.00) on shares of Signature Bank in a research note on Saturday, April 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Signature Bank currently has an average rating of “Buy” and an average target price of $167.85.

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Shares of Signature Bank (SBNY) opened at 131.95 on Monday. The company has a market cap of $7.14 billion, a PE ratio of 21.14 and a beta of 0.96. Signature Bank has a 12 month low of $113.53 and a 12 month high of $164.23. The firm’s 50-day moving average price is $142.54 and its 200 day moving average price is $147.52.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by $0.01. Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. The firm had revenue of $316.79 million during the quarter, compared to the consensus estimate of $324.44 million. During the same period last year, the company earned $1.90 EPS.

A number of institutional investors have recently bought and sold shares of SBNY. Ladenburg Thalmann Financial Services Inc. increased its position 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 worth $126,000 after buying an additional 96 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Signature Bank during the first quarter worth approximately $127,000. Israel Discount Bank of New York acquired a new position in shares of Signature Bank during the first quarter worth approximately $148,000. Mn Services Vermogensbeheer B.V. increased its position 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 worth $200,000 after buying an additional 65 shares in the last quarter. Finally, Koch Industries Inc. acquired a new position in shares of Signature Bank during the first quarter worth approximately $204,000. 96.82% of the stock is currently owned by institutional investors.

About Signature Bank

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.

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

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