Signature Bank (NASDAQ:SBNY) issued its earnings results on Thursday. The bank reported $2.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.20, Bloomberg Earnings reports. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. During the same period last year, the business posted $2.11 earnings per share.

Signature Bank (NASDAQ SBNY) opened at $148.05 on Thursday. The firm has a market capitalization of $7,921.46, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02. Signature Bank has a 52 week low of $116.68 and a 52 week high of $164.23. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.92.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Signature Bank by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,277,955 shares of the bank’s stock valued at $614,014,000 after buying an additional 54,545 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Signature Bank by 2.6% in the 2nd quarter. Capital Research Global Investors now owns 2,894,365 shares of the bank’s stock valued at $415,428,000 after purchasing an additional 72,806 shares in the last quarter. State Street Corp increased its stake in shares of Signature Bank by 0.4% in the 2nd quarter. State Street Corp now owns 2,624,668 shares of the bank’s stock valued at $376,718,000 after purchasing an additional 9,285 shares in the last quarter. Harding Loevner LP increased its stake in shares of Signature Bank by 138.0% in the 3rd quarter. Harding Loevner LP now owns 1,802,550 shares of the bank’s stock valued at $94,865,000 after purchasing an additional 1,045,206 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Signature Bank by 44.6% in the 3rd quarter. Nordea Investment Management AB now owns 1,419,824 shares of the bank’s stock valued at $181,794,000 after purchasing an additional 437,670 shares in the last quarter. Institutional investors and hedge funds own 96.30% of the company’s stock.

A number of equities analysts recently issued reports on the company. Barclays raised their target price on Signature Bank from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. FIG Partners restated an “outperform” rating and issued a $150.00 target price on shares of Signature Bank in a research note on Monday, October 2nd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $142.00 target price on shares of Signature Bank in a research note on Tuesday, October 3rd. JMP Securities assumed coverage on Signature Bank in a research note on Monday, November 20th. They issued an “outperform” rating and a $160.00 target price for the company. Finally, Bank of America restated a “buy” rating and issued a $165.00 target price (down previously from $175.00) on shares of Signature Bank in a research note on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $155.19.

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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.

Earnings History for Signature Bank (NASDAQ:SBNY)

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