Wall Street analysts expect that Signature Bank (NASDAQ:SBNY) will post sales of $456.04 million for the current quarter, according to Zacks Investment Research. Seventeen analysts have issued estimates for Signature Bank’s earnings, with estimates ranging from $430.05 million to $485.36 million. Signature Bank reported sales of $399.80 million in the same quarter last year, which indicates a positive year over year growth rate of 14.1%. The business is expected to report its next earnings results on Tuesday, July 20th.
On average, analysts expect that Signature Bank will report full-year sales of $1.87 billion for the current year, with estimates ranging from $1.75 billion to $1.97 billion. For the next financial year, analysts anticipate that the business will report sales of $2.15 billion, with estimates ranging from $1.97 billion to $2.32 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Signature Bank.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Tuesday, April 20th. The bank reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.39. Signature Bank had a net margin of 25.40% and a return on equity of 10.39%. The firm had revenue of $439.21 million during the quarter, compared to analysts’ expectations of $431.00 million. During the same period in the prior year, the company earned $1.88 EPS.
Shares of NASDAQ SBNY traded down $0.26 during midday trading on Wednesday, reaching $246.45. 254,045 shares of the company’s stock were exchanged, compared to its average volume of 747,612. The stock has a market capitalization of $13.20 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.40 and a beta of 1.98. Signature Bank has a 52-week low of $71.44 and a 52-week high of $260.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.96. The business’s fifty day moving average price is $237.74 and its two-hundred day moving average price is $179.13.
The business also recently announced a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Monday, May 3rd were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Friday, April 30th. Signature Bank’s dividend payout ratio is 20.63%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. acquired a new position in shares of Signature Bank in the first quarter worth about $25,000. Inspire Advisors LLC purchased a new position in Signature Bank during the 4th quarter worth approximately $30,000. Sowell Financial Services LLC raised its stake in Signature Bank by 124.6% during the 1st quarter. Sowell Financial Services LLC now owns 128 shares of the bank’s stock valued at $32,000 after purchasing an additional 71 shares during the period. Allworth Financial LP purchased a new stake in shares of Signature Bank in the first quarter valued at $34,000. Finally, CWM LLC boosted its position in shares of Signature Bank by 44.1% in the first quarter. CWM LLC now owns 170 shares of the bank’s stock worth $38,000 after buying an additional 52 shares during the period. 92.31% of the stock is currently owned by hedge funds and other institutional investors.
About Signature Bank
Signature Bank commercial 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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