Signature Bank (NASDAQ:SBNY) – Stock analysts at Jefferies Group reduced their FY2018 earnings estimates for Signature Bank in a research report issued on Monday. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings of $9.35 per share for the year, down from their prior estimate of $9.70. Jefferies Group has a “Buy” rating and a $145.00 price target on the stock. Jefferies Group also issued estimates for Signature Bank’s FY2019 earnings at $10.05 EPS.

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

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SBNY has been the topic of a number of other research reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $158.00 price objective on shares of Signature Bank in a report on Friday, July 14th. FIG Partners reissued an “outperform” rating and set a $150.00 price objective on shares of Signature Bank in a report on Monday, October 2nd. Wedbush lowered shares of Signature Bank from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $157.00 to $126.00 in a report on Wednesday, September 20th. Morgan Stanley reissued an “overweight” rating and set a $166.00 price objective (down previously from $170.00) on shares of Signature Bank in a report on Friday, July 7th. Finally, ValuEngine lowered shares of Signature Bank from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. Signature Bank currently has a consensus rating of “Buy” and an average price target of $157.27.

Signature Bank (NASDAQ:SBNY) traded down 0.99% on Tuesday, reaching $125.90. 179,239 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $125.53 and a 200-day moving average of $136.39. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 20.18 and a beta of 0.96. Signature Bank has a 12 month low of $113.53 and a 12 month high of $164.23.

A number of institutional investors have recently added to or reduced their stakes in SBNY. BlackRock Inc. lifted its position in Signature Bank by 6,271.9% during the 1st quarter. BlackRock Inc. now owns 4,730,210 shares of the bank’s stock valued at $701,915,000 after purchasing an additional 4,655,975 shares during the period. Nordea Investment Management AB lifted its position in Signature Bank by 265.2% during the 2nd quarter. Nordea Investment Management AB now owns 982,154 shares of the bank’s stock valued at $140,969,000 after purchasing an additional 713,190 shares during the period. Koch Industries Inc. lifted its position in Signature Bank by 34,799.2% during the 2nd quarter. Koch Industries Inc. now owns 480,562 shares of the bank’s stock valued at $477,000 after purchasing an additional 479,185 shares during the period. TimesSquare Capital Management LLC lifted its position in Signature Bank by 59.1% during the 2nd quarter. TimesSquare Capital Management LLC now owns 983,300 shares of the bank’s stock valued at $141,133,000 after purchasing an additional 365,400 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new position in Signature Bank during the 2nd quarter valued at about $37,330,000. Institutional investors own 95.78% of the company’s stock.

About Signature Bank

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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