Zacks: Brokerages Anticipate Signature Bank (NASDAQ:SBNY) to Post $2.19 EPS

Wall Street brokerages forecast that Signature Bank (NASDAQ:SBNY) will post earnings of $2.19 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 ($1.37) to $2.80. Signature Bank posted earnings per share of $2.72 in the same quarter last year, which would suggest a negative year over year growth rate of 19.5%. The firm is scheduled to issue its next earnings results on Thursday, July 16th.

According to Zacks, analysts expect that Signature Bank will report full-year earnings of $9.30 per share for the current fiscal year, with EPS estimates ranging from $6.48 to $11.25. For the next year, analysts anticipate that the business will post earnings of $10.85 per share, with EPS estimates ranging from $7.08 to $13.65. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Signature Bank.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.19 by ($0.31). The company had revenue of $362.44 million during the quarter, compared to the consensus estimate of $343.96 million. Signature Bank had a net margin of 27.75% and a return on equity of 11.50%. During the same period in the previous year, the company earned $2.69 EPS.

A number of research analysts recently weighed in on SBNY shares. Compass Point upped their price target on Signature Bank from $105.00 to $117.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Wells Fargo & Co upped their price target on Signature Bank from $95.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Morgan Stanley upped their price target on Signature Bank from $133.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. BidaskClub raised Signature Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Bank of America increased their price objective on Signature Bank from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $125.69.

Shares of SBNY traded up $2.31 during trading hours on Thursday, hitting $107.02. 4,568 shares of the stock were exchanged, compared to its average volume of 506,871. Signature Bank has a fifty-two week low of $68.98 and a fifty-two week high of $148.64. The firm has a market capitalization of $5.61 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 1.16 and a beta of 1.77. The business has a 50-day moving average of $103.46 and a 200-day moving average of $114.95. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.99 and a quick ratio of 0.98.

Several large investors have recently bought and sold shares of SBNY. CWM Advisors LLC purchased a new stake in shares of Signature Bank during the first quarter worth $28,000. Procyon Private Wealth Partners LLC bought a new stake in Signature Bank in the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC boosted its stake in Signature Bank by 1,866.7% in the first quarter. Tower Research Capital LLC TRC now owns 649 shares of the bank’s stock worth $52,000 after buying an additional 616 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Signature Bank in the fourth quarter worth approximately $55,000. Finally, Spirit of America Management Corp NY purchased a new stake in Signature Bank in the first quarter worth approximately $153,000. Hedge funds and other institutional investors own 92.17% 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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