Analysts predict that Signature Bank (NASDAQ:SBNY) will report earnings per share (EPS) of $2.76 for the current quarter, Zacks Investment Research reports. Eighteen analysts have made estimates for Signature Bank’s earnings, with estimates ranging from $2.61 to $2.88. Signature Bank posted earnings of $2.69 per share in the same quarter last year, which suggests a positive year over year growth rate of 2.6%. The business is expected to announce its next quarterly earnings results on Thursday, April 18th.
On average, analysts expect that Signature Bank will report full year earnings of $11.43 per share for the current financial year, with EPS estimates ranging from $10.76 to $11.70. For the next fiscal year, analysts anticipate that the company will report earnings of $12.32 per share, with EPS estimates ranging from $11.25 to $12.80. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Signature Bank.
Signature Bank (NASDAQ:SBNY) last released its earnings results on Thursday, January 17th. The bank reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.15. The business had revenue of $340.95 million for the quarter, compared to analyst estimates of $331.47 million. Signature Bank had a net margin of 29.17% and a return on equity of 14.70%. During the same quarter in the previous year, the business earned $2.43 earnings per share.
Several equities analysts recently issued reports on the stock. BidaskClub lowered shares of Signature Bank from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. BMO Capital Markets dropped their target price on shares of Signature Bank from $138.00 to $132.00 and set a “market perform” rating on the stock in a report on Friday, October 19th. ValuEngine upgraded shares of Signature Bank from a “strong sell” rating to a “sell” rating in a report on Thursday, October 18th. Hovde Group lowered shares of Signature Bank from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 2nd. Finally, UBS Group upgraded shares of Signature Bank from a “neutral” rating to a “buy” rating and boosted their target price for the company from $122.00 to $138.00 in a report on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $139.90.
Several hedge funds and other institutional investors have recently made changes to their positions in SBNY. Massachusetts Financial Services Co. MA raised its holdings in shares of Signature Bank by 257.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,210,132 shares of the bank’s stock valued at $138,972,000 after purchasing an additional 871,477 shares during the period. CI Global Investments Inc. raised its holdings in shares of Signature Bank by 176.4% during the third quarter. CI Global Investments Inc. now owns 1,157,940 shares of the bank’s stock valued at $132,978,000 after purchasing an additional 738,928 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Signature Bank by 35.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,184,270 shares of the bank’s stock valued at $136,002,000 after purchasing an additional 310,320 shares during the period. American Century Companies Inc. acquired a new position in shares of Signature Bank during the third quarter valued at about $29,074,000. Finally, BlackRock Inc. raised its holdings in shares of Signature Bank by 4.6% during the third quarter. BlackRock Inc. now owns 5,253,588 shares of the bank’s stock valued at $603,320,000 after purchasing an additional 228,832 shares during the period. Hedge funds and other institutional investors own 94.24% of the company’s stock.
SBNY stock traded down $0.39 during midday trading on Friday, hitting $132.16. The stock had a trading volume of 318,452 shares, compared to its average volume of 541,105. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.08 and a beta of 1.37. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 1.19. Signature Bank has a 1-year low of $98.54 and a 1-year high of $158.80.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Friday, February 1st will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.69%. Signature Bank’s dividend payout ratio is currently 19.86%.
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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