Zacks: Brokerages Expect Signature Bank (SBNY) Will Post Earnings of $2.23 Per Share
Wall Street brokerages expect that Signature Bank (NASDAQ:SBNY) will announce earnings of $2.23 per share for the current quarter, according to Zacks Investment Research. Seventeen analysts have issued estimates for Signature Bank’s earnings. The highest EPS estimate is $2.32 and the lowest is $2.18. Signature Bank reported earnings of $2.11 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The company is scheduled to report its next earnings results on Thursday, January 18th.
On average, analysts expect that Signature Bank will report full-year earnings of $7.25 per share for the current financial year, with EPS estimates ranging from $7.20 to $7.37. For the next year, analysts expect that the business will post earnings of $9.42 per share, with EPS estimates ranging from $9.00 to $10.35. Zacks’ EPS calculations are an average based on a survey of analysts that follow Signature Bank.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.10. The firm had revenue of $316.94 million during the quarter, compared to analysts’ expectations of $322.22 million. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. During the same period in the previous year, the business posted $2.11 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC acquired a new position in shares of Signature Bank in the 3rd quarter valued at approximately $115,000. Public Employees Retirement System of Ohio grew its position in shares of Signature Bank by 0.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,819 shares of the bank’s stock valued at $8,427,000 after purchasing an additional 478 shares during the period. California Public Employees Retirement System grew its position in shares of Signature Bank by 8.4% in the 3rd quarter. California Public Employees Retirement System now owns 118,060 shares of the bank’s stock valued at $15,116,000 after purchasing an additional 9,160 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Signature Bank by 3.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 17,895 shares of the bank’s stock valued at $2,291,000 after purchasing an additional 559 shares during the period. Finally, Zions Bancorporation acquired a new position in shares of Signature Bank in the 3rd quarter valued at approximately $152,000. Institutional investors and hedge funds own 96.33% of the company’s stock.
Shares of Signature Bank (SBNY) opened at $137.57 on Monday. The firm has a market capitalization of $7,385.17, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.76 and a beta of 1.02. Signature Bank has a twelve month low of $116.68 and a twelve month high of $164.23. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71.
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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