Signature Bank (NASDAQ:SBNY) issued its quarterly earnings results on Thursday. The bank reported $2.72 EPS for the quarter, topping the consensus estimate of $2.71 by $0.01, Morningstar.com reports. Signature Bank had a net margin of 32.59% and a return on equity of 13.81%. The firm had revenue of $334.88 million for the quarter, compared to analysts’ expectations of $333.25 million. During the same period in the previous year, the firm posted $2.83 EPS.
Signature Bank stock opened at $123.87 on Friday. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.04 and a beta of 1.36. The business’s 50-day moving average price is $120.09. Signature Bank has a fifty-two week low of $98.54 and a fifty-two week high of $137.93. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.19.
Several equities research analysts have commented on the stock. BidaskClub raised shares of YRC Worldwide from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. JPMorgan Chase & Co. lowered their price objective on shares of Realogy from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. FIG Partners lowered shares of Signature Bank from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 18th. BMO Capital Markets upgraded shares of Tourmaline Oil from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 30th. Finally, Wedbush restated an “outperform” rating and set a $124.00 price objective on shares of New Relic in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $144.50.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in Signature Bank by 1.9% in the 1st quarter. BlackRock Inc. now owns 5,292,224 shares of the bank’s stock valued at $677,774,000 after buying an additional 96,378 shares during the last quarter. FMR LLC grew its stake in Signature Bank by 8.1% in the 1st quarter. FMR LLC now owns 2,662,132 shares of the bank’s stock valued at $340,939,000 after buying an additional 198,908 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt grew its stake in Signature Bank by 4.0% in the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,630,000 shares of the bank’s stock valued at $336,850,000 after buying an additional 100,000 shares during the last quarter. Nordea Investment Management AB grew its stake in Signature Bank by 3.0% in the 4th quarter. Nordea Investment Management AB now owns 1,212,729 shares of the bank’s stock valued at $124,678,000 after buying an additional 35,731 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Signature Bank by 29.4% in the 4th quarter. Millennium Management LLC now owns 814,447 shares of the bank’s stock valued at $83,733,000 after buying an additional 185,048 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.
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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