$546.11 Million in Sales Expected for Signature Bank (NASDAQ:SBNY) This Quarter

Analysts expect Signature Bank (NASDAQ:SBNY) to report sales of $546.11 million for the current fiscal quarter, according to Zacks. Thirteen analysts have made estimates for Signature Bank’s earnings. The lowest sales estimate is $529.45 million and the highest is $562.00 million. Signature Bank reported sales of $419.17 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 30.3%. The company is scheduled to issue its next quarterly earnings results on Thursday, January 20th.

On average, analysts expect that Signature Bank will report full-year sales of $1.98 billion for the current year, with estimates ranging from $1.96 billion to $2.00 billion. For the next year, analysts forecast that the business will post sales of $2.42 billion, with estimates ranging from $2.22 billion to $2.57 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Signature Bank.

Signature Bank (NASDAQ:SBNY) last posted its earnings results on Monday, October 18th. The bank reported $3.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.72 by $0.16. Signature Bank had a net margin of 37.52% and a return on equity of 12.14%. The firm had revenue of $512.24 million for the quarter, compared to analysts’ expectations of $513.34 million. During the same quarter last year, the firm earned $2.62 EPS.

SBNY has been the topic of several recent analyst reports. Wedbush lifted their target price on shares of Signature Bank from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 20th. Raymond James lifted their price target on shares of Signature Bank from $360.00 to $400.00 and gave the stock a “strong-buy” rating in a report on Monday, November 15th. Wells Fargo & Company lifted their price target on shares of Signature Bank from $345.00 to $390.00 and gave the stock an “overweight” rating in a report on Thursday, October 7th. UBS Group boosted their target price on shares of Signature Bank from $288.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, October 21st. Finally, Maxim Group boosted their target price on shares of Signature Bank from $330.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, October 20th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Signature Bank presently has an average rating of “Buy” and a consensus target price of $310.20.

A number of institutional investors and hedge funds have recently made changes to their positions in SBNY. Invesco Ltd. grew its holdings in shares of Signature Bank by 65.5% during the third quarter. Invesco Ltd. now owns 1,120,157 shares of the bank’s stock valued at $304,997,000 after buying an additional 443,323 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Signature Bank by 6.3% during the second quarter. Vanguard Group Inc. now owns 5,285,318 shares of the bank’s stock valued at $1,298,339,000 after buying an additional 315,375 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Signature Bank by 186.8% during the second quarter. Clearbridge Investments LLC now owns 456,928 shares of the bank’s stock valued at $112,244,000 after buying an additional 297,581 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Signature Bank by 331.4% during the third quarter. Alliancebernstein L.P. now owns 384,577 shares of the bank’s stock valued at $104,713,000 after buying an additional 295,422 shares during the last quarter. Finally, CI Investments Inc. grew its holdings in shares of Signature Bank by 328.2% during the third quarter. CI Investments Inc. now owns 362,905 shares of the bank’s stock valued at $98,812,000 after buying an additional 278,159 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Shares of Signature Bank stock traded up $3.49 during mid-day trading on Friday, hitting $339.63. 527,298 shares of the stock were exchanged, compared to its average volume of 616,573. Signature Bank has a 12 month low of $111.36 and a 12 month high of $342.03. The company has a 50-day simple moving average of $300.17 and a 200 day simple moving average of $265.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.91. The company has a market capitalization of $20.59 billion, a P/E ratio of 24.35, a P/E/G ratio of 2.28 and a beta of 1.94.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Stockholders of record on Friday, October 29th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Thursday, October 28th. Signature Bank’s dividend payout ratio (DPR) is 16.06%.

Signature Bank Company Profile

Signature Bank engages in the provision of commercial banking services. It operates through the Commercial Banking and Specialty Finance segments. The Commercial Banking segment comprises of commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities.

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Earnings History and Estimates for Signature Bank (NASDAQ:SBNY)

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