Signature Bank (NASDAQ:SBNY) to Post FY2019 Earnings of $10.81 Per Share, Jefferies Financial Group Forecasts

Signature Bank (NASDAQ:SBNY) – Analysts at Jefferies Financial Group cut their FY2019 earnings per share (EPS) estimates for Signature Bank in a note issued to investors on Monday, October 21st. Jefferies Financial Group analyst C. Haire now expects that the bank will post earnings per share of $10.81 for the year, down from their prior forecast of $10.83. Jefferies Financial Group also issued estimates for Signature Bank’s Q1 2021 earnings at $2.90 EPS, Q2 2021 earnings at $2.93 EPS, Q3 2021 earnings at $3.06 EPS and FY2021 earnings at $12.00 EPS.

Signature Bank (NASDAQ:SBNY) last posted its earnings results on Thursday, October 17th. The bank reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.05. The company had revenue of $334.00 million for the quarter, compared to the consensus estimate of $339.14 million. Signature Bank had a return on equity of 13.09% and a net margin of 31.37%. During the same period in the previous year, the business earned $2.84 earnings per share.

A number of other brokerages also recently issued reports on SBNY. Wells Fargo & Co decreased their price objective on Signature Bank from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. set a $138.00 price objective on Signature Bank and gave the company a “buy” rating in a research report on Friday, September 6th. Morgan Stanley decreased their price objective on Signature Bank from $145.00 to $143.00 and set an “overweight” rating on the stock in a research report on Tuesday. ValuEngine downgraded Signature Bank from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Finally, Raymond James upgraded Signature Bank from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $142.00 to $143.00 in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $137.13.

NASDAQ:SBNY opened at $121.20 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $6.79 billion, a P/E ratio of 10.74, a P/E/G ratio of 1.06 and a beta of 1.36. Signature Bank has a 12 month low of $98.54 and a 12 month high of $137.93. The business’s 50-day moving average is $119.40 and its 200 day moving average is $121.71.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.85%. Signature Bank’s dividend payout ratio (DPR) is presently 19.86%.

Several hedge funds and other institutional investors have recently modified their holdings of SBNY. First Trust Advisors LP boosted its position in Signature Bank by 27.5% during the first quarter. First Trust Advisors LP now owns 91,912 shares of the bank’s stock worth $11,771,000 after purchasing an additional 19,802 shares during the period. Xact Kapitalforvaltning AB boosted its position in Signature Bank by 18.3% during the second quarter. Xact Kapitalforvaltning AB now owns 9,635 shares of the bank’s stock worth $1,164,000 after purchasing an additional 1,491 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Signature Bank by 4.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 22,284 shares of the bank’s stock worth $2,693,000 after purchasing an additional 966 shares during the period. IFM Investors Pty Ltd boosted its position in Signature Bank by 5.3% during the second quarter. IFM Investors Pty Ltd now owns 2,964 shares of the bank’s stock worth $358,000 after purchasing an additional 148 shares during the period. Finally, Tandem Investment Advisors Inc. boosted its position in Signature Bank by 101.5% during the second quarter. Tandem Investment Advisors Inc. now owns 159,816 shares of the bank’s stock worth $19,312,000 after purchasing an additional 80,506 shares during the period. Hedge funds and other institutional investors own 92.76% 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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Earnings History and Estimates for Signature Bank (NASDAQ:SBNY)

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