Signature Bank (NASDAQ:SBNY) – Equities researchers at Keefe, Bruyette & Woods reduced their Q3 2017 earnings per share estimates for shares of Signature Bank in a note issued to investors on Tuesday. Keefe, Bruyette & Woods analyst C. Mcgratty now expects that the bank will post earnings of $2.16 per share for the quarter, down from their previous forecast of $2.19. Keefe, Bruyette & Woods has a “Buy” rating and a $142.00 price target on the stock. Keefe, Bruyette & Woods also issued estimates for Signature Bank’s Q4 2017 earnings at $2.18 EPS, FY2017 earnings at $7.08 EPS, Q1 2018 earnings at $2.23 EPS, Q2 2018 earnings at $2.31 EPS, Q3 2018 earnings at $2.44 EPS, Q4 2018 earnings at $2.52 EPS, FY2018 earnings at $9.50 EPS, Q1 2019 earnings at $2.46 EPS, Q2 2019 earnings at $2.58 EPS, Q3 2019 earnings at $2.76 EPS and FY2019 earnings at $10.65 EPS.

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

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Other equities research analysts also recently issued research reports about the company. FIG Partners reiterated an “outperform” rating and set a $150.00 price objective on shares of Signature Bank in a research report on Monday. Bank of America Corporation restated a “buy” rating and issued a $165.00 target price (down from $175.00) on shares of Signature Bank in a report on Wednesday, September 20th. Wedbush cut Signature Bank from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $157.00 to $126.00 in a report on Wednesday, September 20th. Morgan Stanley cut their target price on Signature Bank from $164.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, September 15th. Finally, Hovde Group raised Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 target price on the stock in a research report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $157.27.

Shares of Signature Bank (SBNY) opened at 128.38 on Wednesday. The stock has a market cap of $6.94 billion, a PE ratio of 20.57 and a beta of 0.96. Signature Bank has a 52-week low of $113.53 and a 52-week high of $164.23. The company’s 50-day moving average price is $126.07 and its 200-day moving average price is $137.17.

Institutional investors have recently added to or reduced their stakes in the business. Pacad Investment Ltd. purchased a new stake in Signature Bank in the 2nd quarter worth approximately $100,000. YorkBridge Wealth Partners LLC boosted its stake in shares of Signature Bank by 6.3% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock valued at $100,000 after buying an additional 41 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Signature Bank during the 1st quarter valued at $127,000. Commonwealth Bank of Australia boosted its stake in shares of Signature Bank by 5.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock valued at $176,000 after buying an additional 60 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Signature Bank by 1.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock valued at $202,000 after buying an additional 21 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

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.

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

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