Signature Bank (NASDAQ:SBNY) – Equities researchers at Jefferies Group decreased their Q3 2017 earnings per share estimates for Signature Bank in a report released on Monday. Jefferies Group analyst C. Haire now anticipates that the bank will earn $2.22 per share for the quarter, down from their prior forecast of $2.24. Jefferies Group has a “Buy” rating and a $145.00 price objective on the stock.

SBNY has been the subject of several other research reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $158.00 target price on shares of Signature Bank in a research note on Friday, July 14th. FIG Partners restated an “outperform” rating and issued a $150.00 target price on shares of Signature Bank in a research note on Monday, October 2nd. Wedbush cut shares of Signature Bank from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $157.00 to $126.00 in a research note on Wednesday, September 20th. Morgan Stanley reiterated 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, ValuEngine cut shares of Signature Bank from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $157.27.

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Shares of Signature Bank (NASDAQ SBNY) opened at 127.16 on Wednesday. Signature Bank has a 1-year low of $113.53 and a 1-year high of $164.23. The stock has a market cap of $6.88 billion, a PE ratio of 20.37 and a beta of 0.96. The stock’s 50 day moving average is $125.53 and its 200-day moving average is $136.39.

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

A number of large investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC increased its holdings in Signature Bank by 69.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 445,535 shares of the bank’s stock valued at $63,948,000 after acquiring an additional 181,882 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Signature Bank by 77.4% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,200 shares of the bank’s stock valued at $746,000 after acquiring an additional 2,268 shares in the last quarter. Tandem Investment Advisors Inc. increased its holdings in Signature Bank by 32.5% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 10,326 shares of the bank’s stock valued at $1,482,000 after acquiring an additional 2,534 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Signature Bank by 1.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 65,341 shares of the bank’s stock valued at $9,378,000 after acquiring an additional 685 shares in the last quarter. Finally, Koch Industries Inc. increased its holdings in Signature Bank by 34,799.2% during the 2nd quarter. Koch Industries Inc. now owns 480,562 shares of the bank’s stock valued at $477,000 after acquiring an additional 479,185 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

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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