Wall Street analysts expect Signature Bank (NASDAQ:SBNY) to report earnings per share of $2.73 for the current fiscal quarter, Zacks Investment Research reports. Fifteen analysts have issued estimates for Signature Bank’s earnings. The lowest EPS estimate is $2.66 and the highest is $2.82. Signature Bank reported earnings per share of $2.64 in the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The firm is expected to report its next earnings report on Wednesday, April 15th.
According to Zacks, analysts expect that Signature Bank will report full year earnings of $11.46 per share for the current financial year, with EPS estimates ranging from $11.25 to $11.73. For the next financial year, analysts anticipate that the company will report earnings of $12.55 per share, with EPS estimates ranging from $12.24 to $13.16. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Signature Bank.
Signature Bank (NASDAQ:SBNY) last released its earnings results on Tuesday, January 21st. The bank reported $2.78 EPS for the quarter, topping the Zacks’ consensus estimate of $2.69 by $0.09. Signature Bank had a return on equity of 12.57% and a net margin of 30.36%. The firm had revenue of $345.58 million during the quarter, compared to the consensus estimate of $335.91 million. During the same quarter in the previous year, the company posted $2.94 earnings per share.
A number of equities research analysts recently commented on SBNY shares. Hovde Group downgraded Signature Bank from an “outperform” rating to a “market perform” rating and set a $161.00 target price for the company. in a report on Wednesday, January 29th. Morgan Stanley lifted their target price on Signature Bank from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. BMO Capital Markets lifted their target price on Signature Bank from $146.00 to $154.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. BidaskClub downgraded Signature Bank from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Stephens lifted their target price on Signature Bank from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating, four 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 $145.00.
A number of large investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in Signature Bank by 0.8% in the fourth quarter. Bank of America Corp DE now owns 211,130 shares of the bank’s stock valued at $28,842,000 after acquiring an additional 1,740 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in Signature Bank by 2.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 182,620 shares of the bank’s stock valued at $24,948,000 after acquiring an additional 3,503 shares during the period. Marshall Wace LLP lifted its holdings in Signature Bank by 22.4% in the fourth quarter. Marshall Wace LLP now owns 5,843 shares of the bank’s stock valued at $798,000 after acquiring an additional 1,069 shares during the period. Loomis Sayles & Co. L P lifted its holdings in Signature Bank by 1.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 191,376 shares of the bank’s stock valued at $26,143,000 after acquiring an additional 3,246 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Signature Bank by 7.4% in the fourth quarter. Bank of New York Mellon Corp now owns 949,106 shares of the bank’s stock valued at $129,659,000 after acquiring an additional 65,545 shares during the period. 90.93% of the stock is owned by institutional investors.
Shares of Signature Bank stock traded down $0.04 on Friday, reaching $144.36. 184,702 shares of the stock were exchanged, compared to its average volume of 397,600. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 1.01. Signature Bank has a twelve month low of $111.91 and a twelve month high of $148.64. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.17 and a beta of 1.37. The business has a 50 day moving average price of $140.64 and a two-hundred day moving average price of $126.98.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, January 30th. Signature Bank’s payout ratio is presently 20.63%.
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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