Signature Bank Forecasted to Earn FY2018 Earnings of $11.15 Per Share (SBNY)

Signature Bank (NASDAQ:SBNY) – Investment analysts at American Capital Partners raised their FY2018 earnings per share (EPS) estimates for shares of Signature Bank in a research report issued on Tuesday, October 23rd. American Capital Partners analyst A. Polini now anticipates that the bank will earn $11.15 per share for the year, up from their previous forecast of $11.10. American Capital Partners also issued estimates for Signature Bank’s Q3 2019 earnings at $2.88 EPS and Q4 2019 earnings at $2.99 EPS.

Signature Bank (NASDAQ:SBNY) last posted its earnings results on Thursday, October 18th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.01. The company had revenue of $329.34 million during the quarter, compared to analysts’ expectations of $331.77 million. Signature Bank had a return on equity of 14.34% and a net margin of 27.66%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.29 earnings per share.



SBNY has been the subject of several other research reports. Morgan Stanley cut their target price on Signature Bank from $145.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 31st. BMO Capital Markets cut Signature Bank from an “outperform” rating to a “market perform” rating and set a $171.00 target price for the company. in a research note on Friday, July 20th. JPMorgan Chase & Co. cut Signature Bank from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $150.00 to $130.00 in a research note on Friday, July 20th. ValuEngine cut Signature Bank from a “sell” rating to a “strong sell” rating in a research note on Monday, September 24th. Finally, BidaskClub raised Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $145.00.

SBNY stock opened at $108.04 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.05. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02. Signature Bank has a 52-week low of $105.43 and a 52-week high of $161.92.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Endurance Wealth Management Inc. purchased a new position in shares of Signature Bank during the second quarter worth $128,000. Qube Research & Technologies Ltd purchased a new position in shares of Signature Bank during the second quarter worth $132,000. Zions Bancorporation purchased a new position in shares of Signature Bank during the second quarter worth $160,000. Cerebellum GP LLC boosted its holdings in Signature Bank by 1,408.6% in the third quarter. Cerebellum GP LLC now owns 1,584 shares of the bank’s stock valued at $182,000 after purchasing an additional 1,479 shares during the period. Finally, IFM Investors Pty Ltd purchased a new position in Signature Bank in the third quarter valued at $256,000. Institutional investors and hedge funds own 95.42% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a dividend of $0.56 per share. The ex-dividend date is Wednesday, October 31st. This represents a $2.24 annualized dividend and a dividend yield of 2.07%. Signature Bank’s dividend payout ratio is currently 25.14%.

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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Earnings History and Estimates for Signature Bank (NASDAQ:SBNY)

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