Signature Bank (SBNY) to Post FY2017 Earnings of $7.25 Per Share, Jefferies Group Forecasts
Signature Bank (NASDAQ:SBNY) – Equities research analysts at Jefferies Group raised their FY2017 earnings estimates for shares of Signature Bank in a research note issued on Monday. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings of $7.25 per share for the year, up from their previous estimate of $7.20. Jefferies Group has a “Buy” rating and a $155.00 price objective on the stock. Jefferies Group also issued estimates for Signature Bank’s Q1 2018 earnings at $2.22 EPS.
A number of other brokerages also recently weighed in on SBNY. Barclays PLC set a $140.00 target price on Signature Bank and gave the company a “buy” rating in a report on Friday, October 20th. BMO Capital Markets raised Signature Bank from a “market perform” rating to an “outperform” rating in a report on Friday, October 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $158.00 target price on shares of Signature Bank in a report on Friday, July 14th. BidaskClub downgraded Signature Bank from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, FIG Partners reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Signature Bank in a report on Monday, October 2nd. One equities 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 stock. The company presently has a consensus rating of “Buy” and an average target price of $154.80.
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Signature Bank (NASDAQ:SBNY) opened at 135.88 on Wednesday. The company has a market cap of $7.35 billion, a P/E ratio of 21.77 and a beta of 0.96. The firm has a 50-day moving average price of $125.17 and a 200 day moving average price of $135.11. Signature Bank has a 12 month low of $116.01 and a 12 month high of $164.23.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.10. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. The firm had revenue of $316.94 million during the quarter, compared to the consensus estimate of $322.22 million. During the same quarter in the previous year, the company posted $2.11 EPS.
Several institutional investors and hedge funds have recently made changes to their positions in SBNY. FMR LLC lifted its stake in shares of Signature Bank by 16.4% in the 1st quarter. FMR LLC now owns 521,317 shares of the bank’s stock valued at $77,358,000 after acquiring an additional 73,450 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Signature Bank by 48.3% in the 1st quarter. Teachers Advisors LLC now owns 83,925 shares of the bank’s stock valued at $12,454,000 after acquiring an additional 27,334 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Signature Bank by 8.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,628 shares of the bank’s stock valued at $390,000 after acquiring an additional 208 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in shares of Signature Bank by 8.4% in the 1st quarter. Thrivent Financial For Lutherans now owns 10,050 shares of the bank’s stock valued at $1,491,000 after acquiring an additional 780 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Signature Bank by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 267,027 shares of the bank’s stock valued at $39,626,000 after acquiring an additional 5,077 shares during the last quarter. Institutional investors own 95.97% 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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