Signature Bank (SBNY) to Post Q3 2017 Earnings of $2.16 Per Share, Keefe, Bruyette & Woods Forecasts
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.
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