Analysts Expect Signature Bank (SBNY) Will Announce Quarterly Sales of $321.86 Million
Equities analysts predict that Signature Bank (NASDAQ:SBNY) will report $321.86 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seventeen analysts have made estimates for Signature Bank’s earnings. The highest sales estimate is $325.75 million and the lowest is $316.59 million. Signature Bank reported sales of $306.89 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.9%. The business is expected to announce its next quarterly earnings results before the market opens on Thursday, January 18th.
On average, analysts expect that Signature Bank will report full year sales of $321.86 million for the current year, with estimates ranging from $1.26 billion to $1.27 billion. For the next fiscal year, analysts forecast that the business 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 calculations are an average based on a survey of research analysts that follow Signature Bank.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.10. The business had revenue of $316.94 million during the quarter, compared to the consensus estimate of $322.22 million. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. During the same period in the prior year, the firm earned $2.11 EPS.
Hedge funds have recently made changes to their positions in the company. Pacad Investment Ltd. acquired a new position in shares of Signature Bank in the 2nd quarter valued at $100,000. YorkBridge Wealth Partners LLC raised its stake in shares of Signature Bank by 6.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock valued at $100,000 after buying an additional 41 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Signature Bank in the 3rd quarter valued at $115,000. Zions Bancorporation acquired a new position in shares of Signature Bank in the 3rd quarter valued at $152,000. Finally, Commonwealth Bank of Australia raised its stake in shares of Signature Bank by 5.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock valued at $176,000 after buying an additional 60 shares in the last quarter. Institutional investors own 96.30% of the company’s stock.
Signature Bank (NASDAQ:SBNY) traded down $0.47 during midday trading on Tuesday, hitting $147.56. 350,648 shares of the company traded hands, compared to its average volume of 364,370. The company has a market cap of $8,080.00, a P/E ratio of 20.70, a P/E/G ratio of 1.33 and a beta of 1.02. Signature Bank has a fifty-two week low of $116.68 and a fifty-two week 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.
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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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