Signature Bank (NASDAQ:SBNY) announced its earnings results on Thursday. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.10, MarketWatch Earnings reports. Signature Bank had a net margin of 23.62% and a return on equity of 12.61%. During the same period in the prior year, the business posted $2.11 earnings per share.

Shares of Signature Bank (NASDAQ:SBNY) opened at 126.12 on Friday. Signature Bank has a 12-month low of $114.29 and a 12-month high of $164.23. The firm has a 50-day moving average price of $124.56 and a 200 day moving average price of $135.44. The stock has a market cap of $6.82 billion, a PE ratio of 20.21 and a beta of 0.96.

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SBNY has been the subject of several analyst reports. Morgan Stanley cut their target price on shares of Signature Bank from $164.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, September 15th. Hovde Group raised shares of Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 target price for the company in a research note on Monday, September 11th. TheStreet downgraded shares of Signature Bank from a “b” rating to a “c+” rating in a research note on Wednesday, July 19th. BidaskClub downgraded shares of Signature Bank from a “sell” rating to a “strong sell” rating in a research note on Monday, June 26th. Finally, Deutsche Bank AG cut their target price on shares of Signature Bank from $178.00 to $162.00 and set a “buy” rating for the company in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $154.47.

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 for Signature Bank (NASDAQ:SBNY)

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