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) 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.
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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