Zacks: Brokerages Expect Signature Bank (NASDAQ:SBNY) to Post $2.69 EPS

Equities research analysts expect Signature Bank (NASDAQ:SBNY) to post $2.69 earnings per share for the current quarter, according to Zacks. Fifteen analysts have made estimates for Signature Bank’s earnings, with the highest EPS estimate coming in at $2.78 and the lowest estimate coming in at $2.62. Signature Bank posted earnings of $2.94 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 8.5%. The business is scheduled to report its next earnings report on Thursday, January 16th.

On average, analysts expect that Signature Bank will report full-year earnings of $10.82 per share for the current fiscal year, with EPS estimates ranging from $10.74 to $10.90. For the next year, analysts expect that the company will post earnings of $11.21 per share, with EPS estimates ranging from $10.69 to $11.64. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Signature Bank.

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

A number of research firms recently weighed in on SBNY. Stephens started coverage on shares of Signature Bank in a report on Monday, October 28th. They set an “overweight” rating for the company. BidaskClub upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Wells Fargo & Co decreased their price objective on shares of Signature Bank from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley lowered their target price on Signature Bank from $145.00 to $143.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, Hovde Group raised Signature Bank from a “market perform” rating to an “outperform” rating and set a $140.00 target price on the stock in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Signature Bank presently has a consensus rating of “Buy” and a consensus price target of $137.38.

SBNY stock opened at $121.94 on Tuesday. The firm has a market cap of $6.69 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 1.06 and a beta of 1.35. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.98 and a current ratio of 0.98. Signature Bank has a 1 year low of $98.54 and a 1 year high of $137.93. The stock has a 50-day simple moving average of $122.91 and a 200-day simple moving average of $120.44.

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a $0.56 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.84%. Signature Bank’s dividend payout ratio (DPR) is presently 19.86%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LS Investment Advisors LLC boosted its holdings in Signature Bank by 2.3% in the third quarter. LS Investment Advisors LLC now owns 3,752 shares of the bank’s stock worth $447,000 after purchasing an additional 86 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Signature Bank by 0.4% in the 2nd quarter. Victory Capital Management Inc. now owns 24,639 shares of the bank’s stock valued at $2,977,000 after buying an additional 93 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in shares of Signature Bank by 1.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 8,011 shares of the bank’s stock valued at $968,000 after buying an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Signature Bank by 1.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 10,190 shares of the bank’s stock worth $1,231,000 after acquiring an additional 110 shares during the period. Finally, Whittier Trust Co. raised its stake in Signature Bank by 1.1% during the third quarter. Whittier Trust Co. now owns 10,377 shares of the bank’s stock worth $1,237,000 after acquiring an additional 113 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Article: What is the market perform rating?

Get a free copy of the Zacks research report on Signature Bank (SBNY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.