Signature Bank (NASDAQ:SBNY) – Research analysts at Jefferies Group cut their Q4 2017 earnings estimates for shares of Signature Bank in a note issued to investors on Monday. Jefferies Group analyst C. Haire now anticipates that the bank will earn $2.23 per share for the quarter, down from their prior estimate of $2.25. Jefferies Group currently has a “Buy” rating and a $155.00 target price on the stock. Jefferies Group also issued estimates for Signature Bank’s Q2 2018 earnings at $2.30 EPS and Q4 2018 earnings at $2.45 EPS.

SBNY has been the topic of a number of other research reports. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $158.00 price objective on shares of Signature Bank in a report on Friday, July 14th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $140.00 price objective on shares of Signature Bank in a report on Friday, October 13th. FIG Partners reiterated an “outperform” rating and issued a $150.00 price objective on shares of Signature Bank in a report on Monday, October 2nd. BMO Capital Markets upgraded shares of Signature Bank from a “market perform” rating to an “outperform” rating in a report on Friday. Finally, Wedbush lowered shares of Signature Bank from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $157.00 to $126.00 in a report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $154.80.

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Signature Bank (SBNY) opened at 133.62 on Tuesday. The company has a 50-day moving average price of $124.86 and a 200 day moving average price of $135.15. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 21.41 and a beta of 0.96. Signature Bank has a 12-month low of $114.29 and a 12-month high of $164.23.

Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.10. The business had revenue of $316.94 million for the quarter, compared to analyst estimates of $322.22 million. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. During the same quarter in the prior year, the company earned $2.11 earnings per share.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBNY. Pacad Investment Ltd. bought a new stake in shares of Signature Bank in the 2nd quarter worth about $100,000. YorkBridge Wealth Partners LLC grew its position 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 last quarter. Commonwealth Bank of Australia grew its position 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 last quarter. Rockefeller Financial Services Inc. bought a new stake in shares of Signature Bank during the 3rd quarter valued at about $192,000. Finally, Bronfman E.L. Rothschild L.P. grew its position 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 last quarter. 95.97% of the stock is owned by institutional investors.

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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