Zacks: Analysts Anticipate Signature Bank (SBNY) Will Announce Earnings of $2.23 Per Share
Equities analysts forecast that Signature Bank (NASDAQ:SBNY) will announce earnings of $2.23 per share for the current fiscal quarter, Zacks Investment Research reports. Seventeen analysts have provided estimates for Signature Bank’s earnings, with estimates ranging from $2.18 to $2.32. Signature Bank reported earnings of $2.11 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.7%. The firm is expected to report its next quarterly earnings report on Thursday, January 18th.
On average, analysts expect that Signature Bank will report full-year earnings of $7.25 per share for the current financial year, with EPS estimates ranging from $7.19 to $7.37. For the next fiscal year, analysts anticipate that the company will post earnings of $9.43 per share, with EPS estimates ranging from $9.00 to $10.35. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Signature Bank.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, topping the consensus estimate of $2.19 by $0.10. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. The firm had revenue of $316.94 million for the quarter, compared to analysts’ expectations of $322.22 million. During the same period in the previous year, the business earned $2.11 earnings per share.
Several equities research analysts have commented on the stock. JMP Securities assumed coverage on shares of Signature Bank in a research report on Monday. They issued an “outperform” rating and a $160.00 price target on the stock. BidaskClub cut shares of Signature Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. FIG Partners reiterated an “outperform” rating and issued a $150.00 price target on shares of Signature Bank in a research report on Monday, October 2nd. Barclays PLC set a $145.00 price target on shares of Signature Bank and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $142.00 price target on shares of Signature Bank in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $155.13.
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Shares of Signature Bank (NASDAQ SBNY) opened at $130.53 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.91. Signature Bank has a 1 year low of $116.68 and a 1 year high of $164.23. The company has a market cap of $7,051.80, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01.
A number of institutional investors and hedge funds have recently modified their holdings of SBNY. Pacad Investment Ltd. purchased a new position in Signature Bank in the 2nd quarter worth about $100,000. YorkBridge Wealth Partners LLC increased its stake in Signature Bank by 6.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after purchasing an additional 41 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Signature Bank in the 3rd quarter worth about $115,000. Zions Bancorporation purchased a new position in Signature Bank in the 3rd quarter worth about $152,000. Finally, Commonwealth Bank of Australia increased its stake in Signature Bank by 5.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock worth $176,000 after purchasing an additional 60 shares in the last quarter. 96.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
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