Analysts expect Signature Bank (NASDAQ: SBNY – Get a rating) will report earnings per share (EPS) of $4.98 for the current quarter, Zacks reports. Fifteen analysts provided earnings estimates for Signature Bank, with the highest EPS estimate of $5.74 and the lowest estimate of $3.70. Signature Bank reported earnings per share of $3.57 in the same quarter last year, which would indicate a positive growth rate of 39.5% year over year. The company is expected to announce its next quarterly earnings report on Monday, January 1.
On average, analysts expect Signature Bank to report annual earnings of $22.23 per share for the current fiscal year, with EPS estimates ranging from $20.62 to $25.41. For the next fiscal year, analysts expect the company to report earnings of $27.27 per share, with EPS estimates ranging from $25.00 to $29.71. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts who cover Signature Bank.
Signature Bank (NASDAQ: SBNY – Get a rating) last reported results on Tuesday, April 19. The bank reported EPS of $5.30 for the quarter, beating the consensus estimate of $4.31 by $0.99. Signature Bank had a return on equity of 13.97% and a net margin of 43.29%. The company posted revenue of $607.96 million in the quarter, versus a consensus estimate of $608.85 million. During the same period a year earlier, the company posted EPS of $3.24.
SBNY has been the subject of several research analyst reports. Wedbush reduced its target price on Signature Bank from $415.00 to $375.00 and set a “buy” rating for the company in a Wednesday, April 20 research note. Raymond James reduced his price target on Signature Bank from $400.00 to $350.00 in a Monday May 16 research note. JPMorgan Chase & Co. raised its price target on Signature Bank from $440.00 to $460.00 and gave the company an “overweight” rating in a Wednesday, April 20 research note. Morgan Stanley cut its price target on Signature Bank from $508.00 to $428.00 and set an “overweight” rating for the company in a Monday, March 28 research note. Finally, Wells Fargo & Company reduced its price target on Signature Bank from $435.00 to $408.00 and set an “overweight” rating for the company in a Wednesday, April 20 research note. One financial analyst has assigned the stock a hold rating, thirteen have issued a buy rating and one has assigned the company’s stock a strong buy rating. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $377.92.
Several institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Signature Bank shares by 1.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,893 shares in the bank worth $1,143,000 after buying 43 more shares last quarter. Allworth Financial LP increased its equity stake in Signature Bank by 28.7% in Q1. Allworth Financial LP now owns 193 shares in the bank worth $57,000 after buying 43 more shares in the last quarter. M&T Bank Corp increased its holdings of Signature Bank shares by 3.0% during the 4th quarter. M&T Bank Corp now owns 1,603 shares in the bank worth $518,000 after buying 47 more shares last quarter. Community Capital Management LLC increased its stake in Signature Bank by 0.6% in the fourth quarter. Community Capital Management LLC now owns 8,200 shares of the bank worth $2,636,000 after buying 50 more shares in the last quarter. Finally, the Alaska State Department of Revenue increased its stake in Signature Bank by 0.6% in the first quarter. The Alaska State Department of Revenue now owns 8,827 shares of the bank worth $2,590,000 after buying 50 more shares in the last quarter. 96.17% of the shares are held by institutional investors.
Shares of NASDAQ SBNY traded at $1.90 in Friday’s midday session, reaching $190.89. 992,172 shares of the company were traded, against an average volume of 1,273,167. The company has a quick ratio of 0.84, a current ratio of 0.85 and a leverage ratio of 0.37. Signature Bank has a 12-month low of $179.05 and a 12-month high of $374.76. The company’s 50-day moving average price is $263.64 and its 200-day moving average price is $303.46. The company has a market capitalization of $11.57 billion, a PE ratio of 11.17, a growth price-earnings ratio of 0.90 and a beta of 1.78.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 13. Shareholders of record on Friday, April 29 received a dividend of $0.56. The ex-dividend date was Thursday, April 28. This represents an annualized dividend of $2.24 and a yield of 1.17%. Signature Bank’s dividend payout ratio is currently 13.11%.
Corporate Profile Signature Bank (Get a rating)
Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The Company offers various loan products including commercial and industrial loans, real estate loans and letters of credit.
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