Brokerages expect Signature Bank (NASDAQ:SBNY) to post earnings of $2.78 per share for the current quarter, Zacks reports. Sixteen analysts have provided estimates for Signature Bank's earnings. The highest EPS estimate is $3.37 and the lowest is $2.05. Signature Bank reported earnings per share of $2.75 in the same quarter last year, which indicates a positive year over year growth rate of 1.1%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, October 20th.
On average, analysts expect that Signature Bank will report full year earnings of $9.71 per share for the current financial year, with EPS estimates ranging from $7.69 to $10.87. For the next fiscal year, analysts forecast that the business will post earnings of $11.55 per share, with EPS estimates ranging from $8.52 to $13.60. Zacks' EPS calculations are an average based on a survey of sell-side research analysts that follow Signature Bank.
Signature Bank (NASDAQ:SBNY) last announced its earnings results on Tuesday, July 21st. The bank reported $2.21 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $2.27 by ($0.06). The firm had revenue of $399.80 million during the quarter, compared to analysts' expectations of $387.76 million. Signature Bank had a net margin of 26.12% and a return on equity of 10.74%. During the same quarter in the prior year, the company earned $2.83 EPS.
A number of equities research analysts recently weighed in on SBNY shares. Credit Suisse Group started coverage on shares of Signature Bank in a research note on Friday, October 9th. They issued an "outperform" rating and a $107.00 target price on the stock. Wells Fargo & Company restated a "buy" rating on shares of Signature Bank in a report on Friday, October 9th. ValuEngine cut shares of Signature Bank from a "sell" rating to a "strong sell" rating in a report on Thursday, October 1st. BidaskClub upgraded shares of Signature Bank from a "strong sell" rating to a "sell" rating in a report on Wednesday, October 7th. Finally, CSFB assumed coverage on shares of Signature Bank in a report on Friday, October 9th. They set an "outperform" rating and a $107.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Signature Bank presently has an average rating of "Buy" and an average price target of $125.33.
A number of institutional investors and hedge funds have recently modified their holdings of the business. IFM Investors Pty Ltd boosted its stake in shares of Signature Bank by 35.0% in the third quarter. IFM Investors Pty Ltd now owns 4,976 shares of the bank's stock worth $413,000 after acquiring an additional 1,290 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Signature Bank in the third quarter valued at $289,000. Boston Trust Walden Corp raised its position in Signature Bank by 123.9% in the third quarter. Boston Trust Walden Corp now owns 340,515 shares of the bank's stock valued at $28,260,000 after purchasing an additional 188,411 shares during the period. Tandem Investment Advisors Inc. raised its holdings in shares of Signature Bank by 9.7% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 360,741 shares of the bank's stock valued at $29,938,000 after buying an additional 32,020 shares during the period. Finally, DNB Asset Management AS purchased a new stake in shares of Signature Bank in the 3rd quarter valued at $2,451,000. 91.30% of the stock is currently owned by institutional investors.
Shares of Signature Bank stock traded down $0.16 on Friday, reaching $86.79. The stock had a trading volume of 418,083 shares, compared to its average volume of 489,727. Signature Bank has a 1 year low of $68.98 and a 1 year high of $148.64. The company has a market cap of $4.65 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 1.00 and a beta of 1.68. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.89. The business's 50 day moving average is $90.08 and its two-hundred day moving average is $97.74.
Signature Bank Company Profile
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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