Signature Bank (SBNY) Expected to Earn Q4 2017 Earnings of $2.23 Per Share
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.
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.
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