FY2017 EPS Estimates for Signature Bank (SBNY) Cut by Analyst
Signature Bank (NASDAQ:SBNY) – Equities research analysts at Jefferies Group cut their FY2017 earnings per share estimates for Signature Bank in a report released on Monday. Jefferies Group analyst C. Haire now expects that the bank will post earnings of $7.20 per share for the year, down from their prior estimate of $7.29. Jefferies Group has a “Buy” rating and a $145.00 price objective on the stock. Jefferies Group also issued estimates for Signature Bank’s Q4 2017 earnings at $2.25 EPS, Q1 2018 earnings at $2.20 EPS, Q2 2018 earnings at $2.31 EPS, Q3 2018 earnings at $2.38 EPS and Q4 2018 earnings at $2.46 EPS.
Several other research analysts have also issued reports on SBNY. Barclays PLC set a $145.00 price target on shares of Signature Bank and gave the stock a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods reissued a “buy” rating and set a $142.00 price objective on shares of Signature Bank in a research report on Tuesday, October 3rd. BidaskClub downgraded shares of Signature Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. FIG Partners reissued an “outperform” rating and set a $150.00 price objective on shares of Signature Bank in a research report on Monday, October 2nd. Finally, Bank of America Corporation reissued a “buy” rating and set a $165.00 price objective (down from $175.00) on shares of Signature Bank in a research report on Wednesday, September 20th. One 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. Signature Bank presently has an average rating of “Buy” and a consensus target price of $155.60.
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Signature Bank (SBNY) opened at 125.68 on Thursday. The stock’s 50 day moving average is $125.43 and its 200-day moving average is $136.31. The firm has a market capitalization of $6.80 billion, a PE ratio of 20.13 and a beta of 0.96. Signature Bank has a one year low of $113.53 and a one year high of $164.23.
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 analysts’ consensus estimates of $2.22 by ($0.01). The business had revenue of $316.79 million for the quarter, compared to analyst estimates 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 business earned $1.90 earnings per share.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL raised its stake in Signature Bank by 0.6% during the 1st quarter. Tudor Investment Corp ET AL now owns 2,418 shares of the bank’s stock worth $359,000 after acquiring an additional 14 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in 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 worth $202,000 after acquiring an additional 21 shares during the period. Cadence Capital Management LLC raised its stake in Signature Bank by 1.1% during the 2nd quarter. Cadence Capital Management LLC now owns 2,118 shares of the bank’s stock worth $304,000 after acquiring an additional 23 shares during the period. Boston Private Wealth LLC raised its stake in Signature Bank by 0.3% during the 2nd quarter. Boston Private Wealth LLC now owns 7,568 shares of the bank’s stock worth $1,086,000 after acquiring an additional 25 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Signature Bank by 0.7% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 6,120 shares of the bank’s stock worth $909,000 after acquiring an additional 40 shares during the period. 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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