Analysts expect that Signature Bank (NASDAQ:SBNY – Get Rating) will post $4.22 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Thirteen analysts have made estimates for Signature Bank’s earnings, with the lowest EPS estimate coming in at $3.38 and the highest estimate coming in at $4.81. Signature Bank posted earnings of $3.24 per share during the same quarter last year, which would indicate a positive year over year growth rate of 30.2%. The company is scheduled to announce its next quarterly earnings results on Wednesday, April 20th.
According to Zacks, analysts expect that Signature Bank will report full year earnings of $19.27 per share for the current year, with EPS estimates ranging from $15.15 to $22.00. For the next year, analysts anticipate that the company will post earnings of $25.17 per share, with EPS estimates ranging from $21.99 to $27.65. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Signature Bank.
Signature Bank (NASDAQ:SBNY – Get Rating) last posted its quarterly earnings results on Tuesday, January 18th. The bank reported $4.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.97 by $0.37. Signature Bank had a net margin of 39.74% and a return on equity of 12.66%. During the same period in the prior year, the company earned $3.26 EPS.
A number of equities analysts have commented on SBNY shares. The Goldman Sachs Group lifted their target price on shares of Signature Bank from $387.00 to $429.00 and gave the stock a “buy” rating in a research note on Wednesday, January 19th. Wells Fargo & Company lifted their target price on shares of Signature Bank from $400.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 19th. Stephens lifted their price target on shares of Signature Bank from $380.00 to $415.00 and gave the company an “overweight” rating in a research report on Wednesday, January 19th. Compass Point reiterated a “buy” rating on shares of Signature Bank in a research report on Tuesday, January 18th. Finally, Raymond James lifted their price target on shares of Signature Bank from $440.00 to $445.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 10th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $386.92.
SBNY stock traded up $24.29 during trading on Friday, reaching $349.99. 912,649 shares of the stock were exchanged, compared to its average volume of 926,398. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $332.64 and a 200-day moving average price of $305.18. Signature Bank has a 1 year low of $206.00 and a 1 year high of $374.76. The firm has a market capitalization of $21.22 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 1.69 and a beta of 1.89.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 11th. Investors of record on Friday, January 28th were given a $0.56 dividend. The ex-dividend date was Thursday, January 27th. This represents a $2.24 annualized dividend and a yield of 0.64%. Signature Bank’s dividend payout ratio (DPR) is 14.90%.
Several large investors have recently bought and sold shares of SBNY. CI Investments Inc. grew its stake in Signature Bank by 328.2% in the 3rd quarter. CI Investments Inc. now owns 362,905 shares of the bank’s stock valued at $98,812,000 after acquiring an additional 278,159 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Signature Bank by 51.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,642 shares of the bank’s stock valued at $5,562,000 after acquiring an additional 7,734 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in Signature Bank by 3.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 59,542 shares of the bank’s stock valued at $16,212,000 after purchasing an additional 1,858 shares in the last quarter. TCW Group Inc. lifted its holdings in Signature Bank by 30.7% in the 3rd quarter. TCW Group Inc. now owns 146,548 shares of the bank’s stock valued at $39,901,000 after purchasing an additional 34,387 shares in the last quarter. Finally, Centiva Capital LP lifted its holdings in Signature Bank by 168.1% in the 3rd quarter. Centiva Capital LP now owns 3,517 shares of the bank’s stock valued at $958,000 after purchasing an additional 2,205 shares in the last quarter. 93.32% of the stock is currently owned by institutional investors and hedge funds.
About Signature Bank (Get Rating)
Signature Bank engages in the provision of commercial banking services. It operates through the Commercial Banking and Specialty Finance segments. The Commercial Banking segment consists of commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities.