Signature Bank (NASDAQ:SBNY) – Investment analysts at Wedbush reduced their Q3 2017 earnings per share (EPS) estimates for shares of Signature Bank in a report released on Wednesday. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $2.20 per share for the quarter, down from their previous forecast of $2.24. Wedbush has a “Neutral” rating and a $126.00 price objective on the stock. Wedbush also issued estimates for Signature Bank’s Q4 2017 earnings at $2.20 EPS, FY2017 earnings at $7.13 EPS, Q1 2018 earnings at $2.22 EPS, Q2 2018 earnings at $2.25 EPS and Q3 2018 earnings at $2.28 EPS.

A number of other equities research analysts have also commented on SBNY. Bank of America Corporation restated a “buy” rating and set a $175.00 price objective on shares of Signature Bank in a report on Thursday, May 25th. Jefferies Group LLC restated a “buy” rating and set a $175.00 price objective on shares of Signature Bank in a report on Thursday, May 25th. BMO Capital Markets restated a “hold” rating and set a $165.00 price objective on shares of Signature Bank in a report on Friday, May 26th. ValuEngine lowered shares of Signature Bank from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods set a $164.00 price objective on shares of Signature Bank and gave the stock a “buy” rating in a report on Monday, June 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $158.93.

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Signature Bank (SBNY) opened at 120.22 on Thursday. The stock has a 50 day moving average of $128.78 and a 200-day moving average of $139.56. Signature Bank has a 1-year low of $113.53 and a 1-year high of $164.23. The firm has a market capitalization of $6.50 billion, a P/E ratio of 19.26 and a beta of 0.97.

Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.01). Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. The company had revenue of $316.79 million during the quarter, compared to analyst estimates of $324.44 million. During the same period last year, the company posted $1.90 earnings per share.

Hedge funds have recently modified their holdings of the business. Prudential Financial Inc. increased its stake in Signature Bank by 2.0% in the 1st quarter. Prudential Financial Inc. now owns 133,366 shares of the bank’s stock valued at $19,790,000 after buying an additional 2,656 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Signature Bank by 41.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 359,859 shares of the bank’s stock worth $51,650,000 after purchasing an additional 105,237 shares during the last quarter. Icon Advisers Inc. Co. increased its stake in shares of Signature Bank by 1.1% during the 2nd quarter. Icon Advisers Inc. Co. now owns 114,820 shares of the bank’s stock worth $16,480,000 after purchasing an additional 1,300 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Signature Bank by 19.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 17,033 shares of the bank’s stock worth $2,445,000 after purchasing an additional 2,730 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Signature Bank by 112.1% during the 1st quarter. Macquarie Group Ltd. now owns 181,749 shares of the bank’s stock worth $26,970,000 after purchasing an additional 96,074 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Signature Bank Company Profile

Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.

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

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