FIG Partners downgraded shares of Signature Bank (NASDAQ:SBNY) from an outperform rating to a market perform rating in a report published on Thursday morning, Briefing.com Automated Import reports. FIG Partners also issued estimates for Signature Bank’s FY2019 earnings at $11.46 EPS.
Several other analysts have also commented on the company. ValuEngine raised Signature Bank from a sell rating to a hold rating in a report on Tuesday, April 16th. BidaskClub raised Signature Bank from a sell rating to a hold rating in a report on Saturday, April 13th. JPMorgan Chase & Co. raised Signature Bank from a neutral rating to an overweight rating and lifted their price objective for the stock from $133.00 to $150.00 in a report on Thursday, April 4th. Wedbush began coverage on Signature Bank in a report on Tuesday, March 26th. They issued a focus list rating for the company. Finally, Wells Fargo & Co lifted their price objective on Signature Bank from $135.00 to $150.00 and gave the stock an outperform rating in a report on Friday, March 15th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Signature Bank currently has a consensus rating of Buy and a consensus target price of $141.89.
SBNY stock opened at $126.38 on Thursday. Signature Bank has a 1-year low of $98.54 and a 1-year high of $137.93. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.99 and a quick ratio of 0.97. The firm has a market capitalization of $6.95 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.04 and a beta of 1.36.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Wednesday, April 17th. The bank reported $2.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.76 by ($0.11). Signature Bank had a return on equity of 14.15% and a net margin of 34.17%. The business had revenue of $325.08 million during the quarter, compared to analysts’ expectations of $332.35 million. During the same quarter in the prior year, the firm earned $2.69 EPS. As a group, research analysts anticipate that Signature Bank will post 11.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, April 30th. Signature Bank’s dividend payout ratio is presently 19.86%.
A number of large investors have recently added to or reduced their stakes in SBNY. CI Investments Inc. bought a new stake in Signature Bank during the fourth quarter valued at about $51,755,000. Massachusetts Financial Services Co. MA grew its holdings in Signature Bank by 35.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,641,375 shares of the bank’s stock valued at $168,750,000 after purchasing an additional 431,243 shares during the period. Norges Bank bought a new stake in Signature Bank during the fourth quarter valued at about $40,558,000. FMR LLC grew its holdings in Signature Bank by 14.9% during the fourth quarter. FMR LLC now owns 2,463,224 shares of the bank’s stock valued at $253,244,000 after purchasing an additional 319,803 shares during the period. Finally, Millennium Management LLC grew its holdings in Signature Bank by 29.4% during the fourth quarter. Millennium Management LLC now owns 814,447 shares of the bank’s stock valued at $83,733,000 after purchasing an additional 185,048 shares during the period. 93.43% of the stock is owned by institutional investors and hedge funds.
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.
Read More: What is the NASDAQ?
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.