Wall Street brokerages expect Signature Bank (NASDAQ:SBNY) to report $321.76 million in sales for the current quarter, according to Zacks. Seventeen analysts have provided estimates for Signature Bank’s earnings, with the lowest sales estimate coming in at $316.59 million and the highest estimate coming in at $325.75 million. Signature Bank posted sales of $306.89 million during the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The business is expected to report its next quarterly earnings report on Thursday, January 18th.

On average, analysts expect that Signature Bank will report full-year sales of $321.76 million for the current year, with estimates ranging from $1.26 billion to $1.27 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.34 billion per share, with estimates ranging from $1.31 billion to $1.36 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Signature Bank.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, topping the Zacks’ 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 period in the prior year, the business earned $2.11 EPS.

A number of brokerages have issued reports on SBNY. TheStreet upgraded Signature Bank from a “c+” rating to a “b” rating in a research report on Wednesday, November 29th. Jefferies Group reiterated a “buy” rating and set a $155.00 price target on shares of Signature Bank in a research report on Tuesday, October 24th. Morgan Stanley lowered Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 price target for the company. in a research report on Monday, November 6th. JMP Securities began coverage on Signature Bank in a research report on Monday, November 20th. They set an “outperform” rating and a $160.00 price target for the company. Finally, ValuEngine lowered Signature Bank from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $155.13.

Several institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Signature Bank during the third quarter valued at $115,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Signature Bank by 0.7% during the third 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 last quarter. California Public Employees Retirement System lifted its holdings in shares of Signature Bank by 8.4% during the third 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 last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Signature Bank by 3.2% during the third 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 last quarter. Finally, Zions Bancorporation purchased a new stake in shares of Signature Bank during the third quarter valued at $152,000. Institutional investors and hedge funds own 96.33% of the company’s stock.

Shares of Signature Bank (NASDAQ SBNY) traded up $0.10 during mid-day trading on Wednesday, reaching $136.49. The company’s stock had a trading volume of 275,900 shares, compared to its average volume of 481,231. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.71. Signature Bank has a one year low of $116.68 and a one year high of $164.23. The firm has a market cap of $7,321.83, a price-to-earnings ratio of 15.57, a PEG ratio of 1.75 and a beta of 1.02.

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

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