Signature Bank (NASDAQ:SBNY) – Equities research analysts at Wedbush reduced their FY2018 earnings per share (EPS) estimates for Signature Bank in a research note issued to investors on Wednesday. Wedbush analyst D. Chiaverini now anticipates that the bank will earn $9.00 per share for the year, down from their previous forecast of $10.10. Wedbush currently has a “Neutral” rating and a $126.00 target price on the stock. Wedbush also issued estimates for Signature Bank’s Q4 2018 earnings at $2.25 EPS.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Wednesday, July 19th. The bank reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.01). Signature Bank had a net margin of 23.62% and a return on equity of 12.61%. The firm had revenue of $316.79 million for the quarter, compared to the consensus estimate of $324.44 million. During the same period in the previous year, the company posted $1.90 earnings per share. ILLEGAL ACTIVITY WARNING: “FY2018 Earnings Estimate for Signature Bank Issued By Wedbush (SBNY)” was first reported by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/09/24/fy2018-earnings-estimate-for-signature-bank-issued-by-wedbush-sbny.html.

SBNY has been the topic of several other reports. Jefferies Group LLC reiterated a “buy” rating and issued a $145.00 price objective (down from $169.00) on shares of Signature Bank in a report on Thursday, September 7th. BidaskClub cut Signature Bank from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Morgan Stanley reiterated an “overweight” rating and issued a $166.00 price objective (down from $170.00) on shares of Signature Bank in a report on Friday, July 7th. ValuEngine cut Signature Bank from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Keefe, Bruyette & Woods set a $164.00 price objective on Signature Bank and gave the stock a “buy” rating in a report on Monday, June 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $158.93.

Signature Bank (NASDAQ:SBNY) opened at 121.74 on Friday. Signature Bank has a 52 week low of $113.53 and a 52 week high of $164.23. The company’s 50-day moving average price is $128.78 and its 200-day moving average price is $139.56. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 19.50 and a beta of 0.97.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBNY. Canada Pension Plan Investment Board lifted its holdings in Signature Bank by 96.4% in the first quarter. Canada Pension Plan Investment Board now owns 5,500 shares of the bank’s stock valued at $816,000 after acquiring an additional 2,700 shares during the last quarter. World Asset Management Inc lifted its holdings in Signature Bank by 10.3% in the first quarter. World Asset Management Inc now owns 3,592 shares of the bank’s stock valued at $533,000 after acquiring an additional 336 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Signature Bank by 8.5% in the first quarter. UBS Asset Management Americas Inc. now owns 150,034 shares of the bank’s stock valued at $22,264,000 after acquiring an additional 11,731 shares during the last quarter. Karp Capital Management Corp acquired a new position in Signature Bank in the first quarter valued at approximately $1,109,000. Finally, TD Asset Management Inc. lifted its holdings in Signature Bank by 1.0% in the first quarter. TD Asset Management Inc. now owns 24,865 shares of the bank’s stock valued at $3,690,000 after acquiring an additional 240 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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