Brokerages forecast that Signature Bank (NASDAQ:SBNY) will report $332.03 million in sales for the current fiscal quarter, according to Zacks. Eighteen analysts have made estimates for Signature Bank’s earnings, with the highest sales estimate coming in at $338.00 million and the lowest estimate coming in at $328.00 million. Signature Bank posted sales of $328.27 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.1%. The business is expected to issue its next earnings results on Thursday, January 17th.

On average, analysts expect that Signature Bank will report full year sales of $1.31 billion for the current fiscal year, with estimates ranging from $1.31 billion to $1.32 billion. For the next year, analysts forecast that the business will report sales of $1.37 billion, with estimates ranging from $1.35 billion to $1.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Signature Bank.

Signature Bank (NASDAQ:SBNY) last posted its earnings results on Thursday, October 18th. The bank reported $2.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.01. The firm had revenue of $329.34 million for the quarter, compared to the consensus estimate of $331.77 million. Signature Bank had a net margin of 27.66% and a return on equity of 14.34%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 earnings per share.

Several brokerages have recently issued reports on SBNY. BMO Capital Markets downgraded Signature Bank from an “outperform” rating to a “market perform” rating and set a $171.00 price target on the stock. in a research report on Friday, July 20th. BidaskClub downgraded Signature Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, July 27th. Raymond James lowered their price target on Signature Bank from $133.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. Maxim Group reaffirmed a “buy” rating and issued a $190.00 price target on shares of Signature Bank in a research report on Thursday, October 18th. Finally, ValuEngine downgraded Signature Bank from a “sell” rating to a “strong sell” rating in a research report on Monday, September 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. Signature Bank has an average rating of “Buy” and an average price target of $143.21.

Signature Bank stock traded down $1.08 during mid-day trading on Friday, hitting $114.49. 363,204 shares of the company’s stock were exchanged, compared to its average volume of 498,906. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 0.95 and a beta of 0.91. Signature Bank has a 1-year low of $105.43 and a 1-year high of $161.92.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Wednesday, October 31st. Signature Bank’s dividend payout ratio (DPR) is presently 25.14%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Endurance Wealth Management Inc. bought a new position in Signature Bank during the second quarter worth about $128,000. Qube Research & Technologies Ltd bought a new position in Signature Bank during the second quarter worth about $132,000. Zions Bancorporation bought a new position in Signature Bank during the second quarter worth about $160,000. Cerebellum GP LLC lifted its stake in Signature Bank by 1,408.6% during the third quarter. Cerebellum GP LLC now owns 1,584 shares of the bank’s stock worth $182,000 after purchasing an additional 1,479 shares during the period. Finally, MML Investors Services LLC bought a new position in Signature Bank during the third quarter worth about $203,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Signature Bank Company Profile

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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