Brokers Offer Predictions for Signature Bank’s Q3 2017 Earnings (NASDAQ:SBNY)
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.
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