Equities research analysts predict that Signature Bank (NASDAQ:SBNY) will report earnings of $2.83 per share for the current fiscal quarter, according to Zacks. Eighteen analysts have issued estimates for Signature Bank’s earnings, with the highest EPS estimate coming in at $2.91 and the lowest estimate coming in at $2.75. Signature Bank reported earnings of $2.29 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 23.6%. The business is expected to announce its next earnings results on Thursday, October 18th.

According to Zacks, analysts expect that Signature Bank will report full-year earnings of $9.12 per share for the current year, with EPS estimates ranging from $8.95 to $9.34. For the next financial year, analysts expect that the business will report earnings of $11.38 per share, with EPS estimates ranging from $10.96 to $12.00. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Signature Bank.

Signature Bank (NASDAQ:SBNY) last issued its earnings results on Thursday, July 19th. The bank reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.03. The company had revenue of $326.63 million during the quarter, compared to the consensus estimate of $334.00 million. Signature Bank had a net margin of 26.76% and a return on equity of 13.84%. During the same quarter in the prior year, the firm posted $2.21 EPS.

Several research analysts recently weighed in on SBNY shares. ValuEngine downgraded shares of Signature Bank from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 4th. Morgan Stanley dropped their target price on shares of Signature Bank from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Tuesday, July 24th. Hovde Group raised shares of Signature Bank from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $144.00 to $133.00 in a report on Wednesday, August 8th. Piper Jaffray Companies raised shares of Signature Bank from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $161.92 to $116.68 in a report on Wednesday, June 13th. Finally, JPMorgan Chase & Co. downgraded shares of Signature Bank from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $150.00 to $130.00 in a report on Friday, July 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $152.40.

Signature Bank stock traded down $1.38 during mid-day trading on Tuesday, hitting $117.88. The stock had a trading volume of 421,700 shares, compared to its average volume of 486,845. The company has a market capitalization of $6.58 billion, a P/E ratio of 13.21, a P/E/G ratio of 1.00 and a beta of 1.03. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 0.98. Signature Bank has a one year low of $108.89 and a one year high of $161.92.

Hedge funds have recently made changes to their positions in the business. Endurance Wealth Management Inc. purchased a new stake in Signature Bank in the 2nd quarter worth $128,000. Qube Research & Technologies Ltd purchased a new stake in Signature Bank in the 2nd quarter worth $132,000. Schroder Investment Management Group purchased a new stake in Signature Bank in the 1st quarter worth $150,000. Zions Bancorporation purchased a new stake in Signature Bank in the 2nd quarter worth $160,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Signature Bank in the 1st quarter worth $261,000. Institutional investors and hedge funds own 95.71% of the company’s stock.

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

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