Signature Bank (SBNY) to Post Q1 2018 Earnings of $2.57 Per Share, FIG Partners Forecasts

Signature Bank (NASDAQ:SBNY) – Stock analysts at FIG Partners boosted their Q1 2018 EPS estimates for shares of Signature Bank in a report released on Friday. FIG Partners analyst D. Bishop now anticipates that the bank will post earnings of $2.57 per share for the quarter, up from their previous estimate of $2.54. FIG Partners currently has a “Outperform” rating and a $150.00 target price on the stock. FIG Partners also issued estimates for Signature Bank’s Q2 2018 earnings at $2.74 EPS, Q3 2018 earnings at $2.81 EPS, Q4 2018 earnings at $2.92 EPS, FY2018 earnings at $11.05 EPS, Q1 2019 earnings at $2.95 EPS, Q2 2019 earnings at $2.97 EPS, Q3 2019 earnings at $3.10 EPS, Q4 2019 earnings at $3.20 EPS and FY2019 earnings at $12.21 EPS.

Other analysts have also issued reports about the stock. BMO Capital Markets raised their price target on shares of Signature Bank to $192.00 and gave the stock an “outperform” rating in a research report on Friday. Maxim Group raised their price target on shares of Signature Bank from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. Stephens restated a “buy” rating on shares of Signature Bank in a research report on Friday. Wells Fargo & Co restated an “outperform” rating and issued a $150.00 price target (up from $137.00) on shares of Signature Bank in a research report on Tuesday, January 9th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $149.00 price target on shares of Signature Bank in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $158.56.

Signature Bank (NASDAQ:SBNY) opened at $159.83 on Monday. Signature Bank has a 12 month low of $116.68 and a 12 month high of $164.23. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. The stock has a market cap of $8,580.15, a price-to-earnings ratio of 22.39, a P/E/G ratio of 1.44 and a beta of 1.02.

Signature Bank (NASDAQ:SBNY) last posted its earnings results on Thursday, January 18th. The bank reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.20. Signature Bank had a net margin of 25.71% and a return on equity of 12.72%. The business had revenue of $328.27 million for the quarter, compared to analyst estimates of $321.86 million. During the same period last year, the business posted $2.11 EPS.

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

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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.

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

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