Analysts Anticipate Signature Bank (SBNY) to Post $2.23 Earnings Per Share
Equities analysts predict that Signature Bank (NASDAQ:SBNY) will announce $2.23 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seventeen analysts have issued estimates for Signature Bank’s earnings, with estimates ranging from $2.18 to $2.32. Signature Bank posted earnings of $2.11 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The company is scheduled to announce its next earnings results on Thursday, January 18th.
According to Zacks, analysts expect that Signature Bank will report full-year earnings of $7.25 per share for the current fiscal year, with EPS estimates ranging from $7.19 to $7.37. For the next year, analysts expect that the business will post earnings of $9.43 per share, with EPS estimates ranging from $9.00 to $10.35. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Signature Bank.
Signature Bank (NASDAQ:SBNY) last issued its earnings results on Thursday, October 19th. The bank reported $2.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.10. The company had revenue of $316.94 million during 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 last year, the business posted $2.11 EPS.
A number of brokerages have issued reports on SBNY. Jefferies Group LLC restated a “buy” rating and issued a $155.00 price objective on shares of Signature Bank in a research note on Tuesday, October 24th. Barclays PLC set a $140.00 price target on Signature Bank and gave the company a “buy” rating in a research report on Friday, October 20th. BMO Capital Markets raised Signature Bank from a “market perform” rating to an “outperform” rating in a research report on Friday, October 20th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $140.00 price target on shares of Signature Bank in a research report on Friday, October 13th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $142.00 price target on shares of Signature Bank in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $154.80.
Signature Bank (NASDAQ:SBNY) opened at $131.60 on Friday. The company has a market capitalization of $7,004.02, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.91.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Pacad Investment Ltd. purchased a new stake in Signature Bank during the 2nd quarter worth about $100,000. YorkBridge Wealth Partners LLC lifted its holdings in Signature Bank by 6.3% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after purchasing an additional 41 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in Signature Bank by 5.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock worth $176,000 after purchasing an additional 60 shares in the last quarter. Rockefeller Financial Services Inc. purchased a new stake in Signature Bank during the 3rd quarter worth about $192,000. Finally, Bronfman E.L. Rothschild L.P. lifted its holdings in 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 worth $202,000 after purchasing an additional 21 shares in the last quarter. 95.72% of the stock is currently owned by institutional investors and hedge funds.
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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