Analysts expect Signature Bank (NASDAQ:SBNY) to report earnings of $2.72 per share for the current fiscal quarter, Zacks Investment Research reports. Sixteen analysts have provided estimates for Signature Bank’s earnings, with estimates ranging from $2.61 to $2.87. Signature Bank reported earnings of $2.84 per share in the same quarter last year, which indicates a negative year over year growth rate of 4.2%. The firm is scheduled to report its next earnings report on Thursday, October 17th.
According to Zacks, analysts expect that Signature Bank will report full year earnings of $10.92 per share for the current year, with EPS estimates ranging from $10.72 to $11.27. For the next financial year, analysts anticipate that the company will post earnings of $11.78 per share, with EPS estimates ranging from $11.05 to $12.79. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Signature Bank.
Signature Bank (NASDAQ:SBNY) last posted its earnings results on Thursday, July 18th. The bank reported $2.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.01. Signature Bank had a return on equity of 13.61% and a net margin of 32.59%. The company had revenue of $334.88 million for the quarter, compared to analyst estimates of $333.25 million. During the same period last year, the company earned $2.83 earnings per share.
Several research firms have weighed in on SBNY. Wedbush restated an “outperform” rating and set a $124.00 target price on shares of New Relic in a report on Wednesday, May 15th. Morgan Stanley upgraded Dongfeng Motor Group from an “equal weight” rating to an “overweight” rating in a report on Monday, July 1st. FIG Partners lowered Signature Bank from an “outperform” rating to a “market perform” rating in a report on Thursday, April 18th. ValuEngine upgraded United States Steel from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, BidaskClub upgraded Xilinx from a “hold” rating to a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $144.50.
Institutional investors have recently bought and sold shares of the company. Somerset Trust Co increased its stake in Signature Bank by 153.6% during the first quarter. Somerset Trust Co now owns 213 shares of the bank’s stock valued at $27,000 after acquiring an additional 129 shares during the period. Pearl River Capital LLC bought a new position in Signature Bank during the first quarter valued at about $44,000. Machina Capital S.A.S. increased its stake in Signature Bank by 362.6% during the second quarter. Machina Capital S.A.S. now owns 458 shares of the bank’s stock valued at $55,000 after acquiring an additional 359 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Signature Bank during the first quarter valued at about $81,000. Finally, ETF Managers Group LLC increased its stake in Signature Bank by 11.1% during the first quarter. ETF Managers Group LLC now owns 1,015 shares of the bank’s stock valued at $130,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.
NASDAQ SBNY traded up $2.54 during trading on Friday, hitting $126.52. 274,000 shares of the company traded hands, compared to its average volume of 445,070. Signature Bank has a 12 month low of $98.54 and a 12 month high of $137.93. The business’s fifty day simple moving average is $121.23. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market cap of $7.02 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.08 and a beta of 1.36.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a $1.12 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.54%. Signature Bank’s payout ratio is presently 19.86%.
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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