Equities analysts expect Signature Bank (NASDAQ:SBNY) to report sales of $374.69 million for the current quarter, according to Zacks Investment Research. Sixteen analysts have made estimates for Signature Bank’s earnings. The highest sales estimate is $392.00 million and the lowest is $338.86 million. Signature Bank posted sales of $334.88 million in the same quarter last year, which indicates a positive year over year growth rate of 11.9%. The business is scheduled to announce its next quarterly earnings report on Thursday, July 16th.
On average, analysts expect that Signature Bank will report full-year sales of $1.52 billion for the current year, with estimates ranging from $1.35 billion to $1.61 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.61 billion, with estimates ranging from $1.43 billion to $1.71 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Signature Bank.
Signature Bank (NASDAQ:SBNY) last posted its earnings results on Thursday, April 23rd. The bank reported $1.88 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.19 by ($0.31). The firm had revenue of $362.44 million for the quarter, compared to analyst estimates of $343.96 million. Signature Bank had a return on equity of 11.50% and a net margin of 27.75%. During the same period in the previous year, the company posted $2.69 EPS.
Several hedge funds have recently modified their holdings of SBNY. Norges Bank bought a new position in shares of Signature Bank during the fourth quarter worth about $53,892,000. JPMorgan Chase & Co. lifted its holdings in Signature Bank by 57.3% in the first quarter. JPMorgan Chase & Co. now owns 994,557 shares of the bank’s stock worth $79,953,000 after acquiring an additional 362,268 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in Signature Bank by 149.4% in the first quarter. Alyeska Investment Group L.P. now owns 335,728 shares of the bank’s stock worth $26,989,000 after acquiring an additional 201,140 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in Signature Bank by 67.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 444,486 shares of the bank’s stock worth $60,721,000 after acquiring an additional 178,473 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Signature Bank by 32.7% in the first quarter. Invesco Ltd. now owns 685,880 shares of the bank’s stock worth $55,136,000 after acquiring an additional 169,003 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ SBNY traded up $2.31 during midday trading on Friday, hitting $107.02. 4,568 shares of the company’s stock were exchanged, compared to its average volume of 506,871. The company has a market cap of $5.61 billion, a PE ratio of 10.34, a P/E/G ratio of 1.16 and a beta of 1.77. Signature Bank has a twelve month low of $68.98 and a twelve month high of $148.64. The firm’s fifty day simple moving average is $103.46 and its 200-day simple moving average is $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.
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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