Wall Street brokers expect Signature Bank (NASDAQ:SBNY – Get a rating) will report earnings per share (EPS) of $4.91 for the current fiscal quarter, Zacks Investment Research reports. Fifteen analysts provided earnings estimates for Signature Bank. The lowest EPS estimate is $3.70 and the highest is $5.74. Signature Bank posted earnings of $3.57 per share in the same quarter last year, which would indicate a positive growth rate of 37.5% year over year. The company is expected to release its next results on Monday, January 1.
According to Zacks, analysts expect Signature Bank to report annual earnings of $21.45 per share for the current fiscal year, with EPS estimates ranging from $19.38 to $25.41. For the next fiscal year, analysts expect the company to report earnings of $26.71 per share, with EPS estimates ranging from $23.00 to $29.60. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that track Signature Bank.
Signature Bank (NASDAQ: SBNY – Get a rating) last reported results on Tuesday, April 19. The bank reported earnings per share (EPS) of $4.63 for the quarter, beating Thomson Reuters consensus estimate of $4.31 by $0.32. Signature Bank had a net margin of 43.29% and a return on equity of 13.97%. During the same period last year, the company posted earnings per share of $3.24.
Several analysts have recently commented on the stock. Goldman Sachs Group raised its price target on Signature Bank shares from $387.00 to $429.00 and gave the company a “buy” rating in a research report on Wednesday, January 19. Wedbush lowered its price target on Signature Bank shares from $415.00 to $375.00 and set a “buy” rating on the stock in a Wednesday, April 20 research report. StockNews.com assumed coverage of Signature Bank shares in a Thursday, March 31, report. They issued a “hold” rating on the stock. Stephens raised his price target on Signature Bank shares from $380.00 to $415.00 and gave the company an “overweight” rating in a Wednesday, January 19 report. Finally, Morgan Stanley cut its price target on Signature Bank shares from $508.00 to $428.00 and set an “overweight” rating on the stock in a Monday, March 28 report. One investment analyst has assigned the stock a hold rating, thirteen have issued a buy rating and one has assigned the company’s stock a strong buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $381.08.
SBNY opened at $242.25 on Friday. The company has a market capitalization of $14.69 billion, a P/E ratio of 14.17, a PEG ratio of 1.21 and a beta of 1.77. Signature Bank has a fifty-two week low of $223.96 and a fifty-two week high of $374.76. The company has a 50-day moving average of $293.96 and a 200-day moving average of $313.00. The company has a debt ratio of 0.37, a quick ratio of 0.84 and a current ratio of 0.85.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 13. Shareholders of record on Friday, April 29 will receive a dividend of $0.56. The ex-dividend date is Thursday, April 28. This represents a dividend of $2.24 on an annualized basis and a dividend yield of 0.92%. Signature Bank’s payout ratio is currently 13.11%.
Several hedge funds have recently increased or reduced their stakes in SBNY. Northwestern Mutual Wealth Management Co. increased its stake in Signature Bank shares by 103.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 161 shares of the bank worth $52,000 after purchasing 82 additional shares during the period. JTC Employer Solutions Trustee Ltd bought a new position in Signature Bank shares during Q3 worth approximately $53,000. Allworth Financial LP increased its stake in Signature Bank shares by 28.7% during the 1st quarter. Allworth Financial LP now owns 193 shares in the bank worth $57,000 after buying 43 additional shares during the period. Trust Co. of Vermont bought a new position in Signature Bank stock during Q4 worth approximately $65,000. Finally, First Horizon Advisors Inc. increased its stake in Signature Bank shares by 180.5% during the third quarter. First Horizon Advisors Inc. now owns 1,310 shares of the bank worth $69,000 after purchasing an additional 843 shares during the period. 93.77% of the shares are held by hedge funds and other institutional investors.
Corporate Profile Signature Bank (Get a rating)
Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The Company offers various loan products including commercial and industrial loans, real estate loans and letters of credit.
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