Signature Bank (NASDAQ:SBNY) – Research analysts at Jefferies Financial Group raised their Q3 2021 EPS estimates for Signature Bank in a report issued on Thursday, July 9th. Jefferies Financial Group analyst C. Haire now forecasts that the bank will post earnings of $3.10 per share for the quarter, up from their previous estimate of $3.01. Jefferies Financial Group also issued estimates for Signature Bank’s Q4 2021 earnings at $3.11 EPS.

Other equities analysts have also recently issued research reports about the stock. Maxim Group restated a “buy” rating and set a $120.00 target price on shares of Signature Bank in a research report on Saturday, April 25th. Compass Point lifted their price objective on Signature Bank from $105.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. ValuEngine cut Signature Bank from a “hold” rating to a “sell” rating in a report on Wednesday, April 1st. BMO Capital Markets raised their price target on Signature Bank from $100.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 6th. Finally, Wedbush upgraded Signature Bank from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $110.00 to $127.00 in a research report on Thursday, May 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $126.46.

Signature Bank stock opened at $105.74 on Monday. The firm has a market capitalization of $5.58 billion, a PE ratio of 10.44, a P/E/G ratio of 1.16 and a beta of 1.79. Signature Bank has a 52 week low of $68.98 and a 52 week high of $148.64. The firm’s 50-day simple moving average is $106.36 and its 200 day simple moving average is $112.70. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.07.

Signature Bank (NASDAQ:SBNY) last posted its earnings results on Thursday, April 23rd. The bank reported $1.88 EPS for the quarter, missing the Zacks’ consensus estimate of $2.19 by ($0.31). Signature Bank had a return on equity of 11.50% and a net margin of 27.75%. The firm had revenue of $362.44 million for the quarter, compared to analysts’ expectations of $343.96 million. During the same quarter in the previous year, the firm posted $2.69 earnings per share.

A number of large investors have recently modified their holdings of SBNY. CWM Advisors LLC purchased a new position in Signature Bank in the first quarter valued at about $28,000. Procyon Private Wealth Partners LLC purchased a new stake in Signature Bank during the 4th quarter worth $32,000. Tower Research Capital LLC TRC lifted its holdings in Signature Bank by 1,866.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 649 shares of the bank’s stock worth $52,000 after buying an additional 616 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in Signature Bank in the 4th quarter valued at about $55,000. Finally, Spirit of America Management Corp NY acquired a new stake in shares of Signature Bank during the first quarter valued at about $153,000. 91.88% of the stock is currently owned by hedge funds and other institutional investors.

About Signature Bank

Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.

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

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