Analysts expect Signature Bank (NASDAQ: SBNY – Get a rating) will report earnings per share (EPS) of $4.91 for the current quarter, according to Zacks. Fifteen analysts released earnings estimates for Signature Bank, with the lowest EPS estimate at $3.70 and the highest at $5.74. Signature Bank reported earnings of $3.57 per share in the same quarter last year, which would indicate a positive growth rate of 37.5% year over year. The company is expected to announce its next quarterly results on Monday, January 1.
According to Zacks, analysts expect Signature Bank to report annual earnings of $21.45 per share for the current fiscal year, with EPS estimates ranging from $19.38 to $25.41. For the next fiscal year, analysts expect the company to report earnings of $26.71 per share, with EPS estimates ranging from $23.00 to $29.60. Zacks earnings per share calculations are an average based on a survey of research analysts who provide coverage for Signature Bank.
Signature Bank (NASDAQ: SBNY – Get a rating) last announced its results on Tuesday, April 19. The bank reported earnings per share of $4.63 for the quarter, beating the consensus estimate of $4.31 by $0.32. Signature Bank had a net margin of 43.29% and a return on equity of 13.97%. In the same quarter a year earlier, the company posted EPS of $3.24.
SBNY has been the subject of a number of recent analyst reports. Stephens raised his price target on Signature Bank shares from $380.00 to $415.00 and gave the company an “overweight” rating in a Wednesday, Jan. 19 research report. Wedbush lowered its price target on Signature Bank shares from $415.00 to $375.00 and set a “buy” rating on the stock in a Wednesday, April 20 research report. Raymond James lowered its price target on Signature Bank shares from $430.00 to $400.00 and set a “strong buy” rating on the stock in a Wednesday, April 20 research report. StockNews.com launched coverage on Signature Bank shares in a research report on Thursday, March 31. They issued a “holding” rating on the stock. Finally, Compass Point reissued a “buy” rating on Signature Bank shares in a research report on Tuesday, January 18. One analyst rated the security with a hold rating, thirteen issued a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $381.08.
Large investors have recently changed their stock holdings. Northwestern Mutual Wealth Management Co. increased its stake in Signature Bank by 103.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 161 shares of the bank worth $52,000 after purchasing 82 additional shares during the period. JTC Employer Solutions Trustee Ltd acquired a new stake in Signature Bank during Q3 valued at $53,000. Allworth Financial LP increased its stake in Signature Bank by 28.7% during the 1st quarter. Allworth Financial LP now owns 193 shares in the bank worth $57,000 after buying 43 additional shares during the period. Trust Co. of Vermont acquired a new stake in Signature Bank during Q4 for $65,000. Finally, First Horizon Advisors Inc. increased its stake in Signature Bank by 180.5% during the third quarter. First Horizon Advisors Inc. now owns 1,310 shares of the bank worth $69,000 after purchasing an additional 843 shares during the period. Hedge funds and other institutional investors own 93.77% of the company’s shares.
Shares of SBNY opened at $242.25 on Friday. Signature Bank has a fifty-two week low of $223.96 and a fifty-two week high of $374.76. The company’s 50-day moving average price is $293.96 and its 200-day moving average price is $313.00. The company has a market capitalization of $14.69 billion, a P/E ratio of 14.17, a PEG ratio of 1.21 and a beta of 1.77. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt ratio of 0.37.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 13. Investors of record on Friday, April 29 will receive a dividend of $0.56 per share. This represents a dividend of $2.24 on an annualized basis and a yield of 0.92%. The ex-date of this dividend is Thursday, April 28. Signature Bank’s dividend payout ratio is currently 13.11%.
About 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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