Signature Bank (NASDAQ:SBNY) – Analysts at Jefferies Financial Group reduced their Q1 2019 earnings estimates for shares of Signature Bank in a research report issued to clients and investors on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now forecasts that the bank will post earnings of $2.69 per share for the quarter, down from their previous estimate of $2.78. Jefferies Financial Group also issued estimates for Signature Bank’s Q2 2019 earnings at $2.78 EPS and FY2019 earnings at $11.40 EPS.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Thursday, October 18th. The bank reported $2.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.01. Signature Bank had a net margin of 27.66% and a return on equity of 14.34%. The business had revenue of $329.34 million for the quarter, compared to the consensus estimate of $331.77 million. During the same period in the prior year, the company posted $2.29 earnings per share. Signature Bank’s revenue was up 3.9% compared to the same quarter last year.
Several other equities analysts also recently commented on SBNY. ValuEngine upgraded shares of Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Friday, September 14th. Morgan Stanley cut their price objective on shares of Signature Bank from $135.00 to $133.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 18th. Wells Fargo & Co reaffirmed a “buy” rating and set a $135.00 price objective on shares of Signature Bank in a research report on Monday, October 1st. BidaskClub raised shares of Signature Bank from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, Maxim Group reissued a “buy” rating and issued a $190.00 target price on shares of Signature Bank in a report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. Signature Bank has a consensus rating of “Buy” and a consensus price target of $139.74.
SBNY stock opened at $109.24 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.95 and a current ratio of 0.96. Signature Bank has a 52 week low of $98.54 and a 52 week high of $161.92. The stock has a market capitalization of $6.10 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 0.91 and a beta of 1.06.
Several institutional investors have recently added to or reduced their stakes in the company. Nomura Holdings Inc. increased its stake in shares of Signature Bank by 16.7% in the second quarter. Nomura Holdings Inc. now owns 4,460 shares of the bank’s stock valued at $570,000 after buying an additional 639 shares during the period. Louisiana State Employees Retirement System increased its position in Signature Bank by 4.8% during the 3rd quarter. Louisiana State Employees Retirement System now owns 15,200 shares of the bank’s stock valued at $1,746,000 after purchasing an additional 700 shares during the period. State Treasurer State of Michigan increased its position in Signature Bank by 3.5% during the 3rd quarter. State Treasurer State of Michigan now owns 20,500 shares of the bank’s stock valued at $2,354,000 after purchasing an additional 700 shares during the period. Thrivent Financial for Lutherans increased its position in Signature Bank by 5.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,948 shares of the bank’s stock valued at $1,487,000 after purchasing an additional 717 shares during the period. Finally, Cerebellum GP LLC increased its position in Signature Bank by 48.0% during the 4th quarter. Cerebellum GP LLC now owns 2,344 shares of the bank’s stock valued at $241,000 after purchasing an additional 760 shares during the period. 94.38% of the stock is owned by institutional investors.
Signature Bank Company Profile
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.
Recommended Story: What impact do institutional investors have on markets?
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.