Signature Bank (NASDAQ:SBNY) – Stock analysts at Jefferies Group lifted their Q3 2017 earnings estimates for Signature Bank in a research report issued on Wednesday. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings of $2.24 per share for the quarter, up from their prior estimate of $2.22. Jefferies Group has a “Buy” rating and a $145.00 price target on the stock. Jefferies Group also issued estimates for Signature Bank’s Q4 2017 earnings at $2.32 EPS and FY2017 earnings at $7.29 EPS.

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

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A number of other equities research analysts have also weighed in on the company. ValuEngine lowered Signature Bank from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub cut Signature Bank from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. TheStreet cut Signature Bank from a “b” rating to a “c+” rating in a research note on Wednesday, July 19th. Deutsche Bank AG lowered their price objective on Signature Bank from $178.00 to $162.00 and set a “buy” rating for the company in a research note on Thursday, July 20th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $157.00 price objective on shares of Signature Bank in a research note on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $166.00.

Shares of Signature Bank (NASDAQ:SBNY) opened at 123.71 on Monday. The company has a market capitalization of $6.69 billion, a PE ratio of 19.82 and a beta of 0.97. Signature Bank has a one year low of $113.53 and a one year high of $164.23. The company has a 50-day moving average price of $131.51 and a 200 day moving average price of $141.71.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBNY. Pacad Investment Ltd. bought a new position in shares of Signature Bank in the second quarter worth about $100,000. YorkBridge Wealth Partners LLC boosted its stake in shares of Signature Bank by 6.3% in the second quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after acquiring an additional 41 shares during the period. Quantbot Technologies LP bought a new position in shares of Signature Bank in the first quarter worth about $127,000. Israel Discount Bank of New York bought a new position in shares of Signature Bank in the first quarter worth about $148,000. Finally, Commonwealth Bank of Australia boosted its stake in shares of Signature Bank by 5.1% in the second quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock worth $176,000 after acquiring an additional 60 shares during the period. 95.80% of the stock is owned by hedge funds and other 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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