Q2 2019 EPS Estimates for Signature Bank Cut by Jefferies Financial Group (NASDAQ:SBNY)

Signature Bank (NASDAQ:SBNY) – Research analysts at Jefferies Financial Group reduced their Q2 2019 EPS estimates for shares of Signature Bank in a research note issued to investors on Tuesday, July 9th. Jefferies Financial Group analyst C. Haire now anticipates that the bank will earn $2.70 per share for the quarter, down from their previous estimate of $2.74.

Signature Bank (NASDAQ:SBNY) last announced its earnings results on Wednesday, April 17th. The bank reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.11). Signature Bank had a net margin of 34.17% and a return on equity of 14.15%. The firm had revenue of $325.08 million for the quarter, compared to analyst estimates of $332.35 million. During the same period last year, the firm earned $2.69 earnings per share.



Several other analysts also recently issued reports on SBNY. Morgan Stanley raised shares of Dongfeng Motor Group from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 1st. Wedbush reaffirmed an “outperform” rating and issued a $124.00 price target on shares of New Relic in a research note on Wednesday, May 15th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Broadcom in a research note on Friday, March 15th. FIG Partners downgraded shares of Signature Bank from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 18th. Finally, Raymond James downgraded shares of First Midwest Bancorp to a “hold” rating in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Signature Bank presently has a consensus rating of “Buy” and an average target price of $144.77.

Shares of NASDAQ:SBNY opened at $127.60 on Thursday. The firm’s fifty day moving average price is $118.96. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.99 and a current ratio of 0.99. Signature Bank has a 12-month low of $98.54 and a 12-month high of $137.93. The firm has a market cap of $6.99 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.05 and a beta of 1.36.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. LPL Financial LLC grew its stake in Signature Bank by 8.5% in the fourth quarter. LPL Financial LLC now owns 3,940 shares of the bank’s stock valued at $405,000 after purchasing an additional 308 shares during the last quarter. Advisor Group Inc. grew its stake in Signature Bank by 3.6% in the fourth quarter. Advisor Group Inc. now owns 3,329 shares of the bank’s stock valued at $342,000 after purchasing an additional 115 shares during the last quarter. GSA Capital Partners LLP grew its stake in Signature Bank by 5.1% in the fourth quarter. GSA Capital Partners LLP now owns 3,978 shares of the bank’s stock valued at $409,000 after purchasing an additional 193 shares during the last quarter. Northern Trust Corp grew its stake in Signature Bank by 3.6% in the fourth quarter. Northern Trust Corp now owns 479,777 shares of the bank’s stock valued at $49,326,000 after purchasing an additional 16,651 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in Signature Bank by 3.2% in the fourth quarter. Great West Life Assurance Co. Can now owns 38,961 shares of the bank’s stock valued at $3,730,000 after purchasing an additional 1,212 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: What is a CD ladder?

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

Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.