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.

Earnings History and Estimates for Signature Bank (NASDAQ:SBNY)

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