Signature Bank (NASDAQ:SBNY) – Equities research analysts at Keefe, Bruyette & Woods reduced their Q3 2017 earnings estimates for shares of Signature Bank in a research report issued on Tuesday. Keefe, Bruyette & Woods analyst C. Mcgratty now forecasts that the bank will earn $2.16 per share for the quarter, down from their prior forecast of $2.19. Keefe, Bruyette & Woods currently has a “Buy” rating and a $142.00 price objective on the stock. Keefe, Bruyette & Woods also issued estimates for Signature Bank’s Q4 2017 earnings at $2.18 EPS, FY2017 earnings at $7.08 EPS, Q1 2018 earnings at $2.23 EPS, Q2 2018 earnings at $2.31 EPS, Q3 2018 earnings at $2.44 EPS, Q4 2018 earnings at $2.52 EPS, FY2018 earnings at $9.50 EPS, Q1 2019 earnings at $2.46 EPS, Q2 2019 earnings at $2.58 EPS, Q3 2019 earnings at $2.76 EPS and FY2019 earnings at $10.65 EPS.

Signature Bank (NASDAQ:SBNY) last issued its earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.01). Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. The business had revenue of $316.79 million for the quarter, compared to analyst estimates of $324.44 million. During the same period last year, the business posted $1.90 EPS.

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A number of other research analysts also recently commented on the company. Jefferies Group LLC reissued a “buy” rating and issued a $169.00 price target on shares of Signature Bank in a report on Wednesday, June 28th. Maxim Group reissued a “buy” rating and issued a $175.00 price target on shares of Signature Bank in a report on Wednesday, July 19th. Deutsche Bank AG reduced their price target on Signature Bank from $178.00 to $162.00 and set a “buy” rating for the company in a report on Thursday, July 20th. Bank of America Corporation reissued a “buy” rating and issued a $165.00 price target (down previously from $175.00) on shares of Signature Bank in a report on Wednesday, September 20th. Finally, TheStreet downgraded Signature Bank from a “b” rating to a “c+” rating in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $157.27.

Shares of Signature Bank (SBNY) opened at 124.65 on Wednesday. The stock’s 50 day moving average price is $125.88 and its 200 day moving average price is $137.08. Signature Bank has a 12 month low of $113.53 and a 12 month high of $164.23. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 19.97 and a beta of 0.96.

A number of hedge funds and other institutional investors have recently made changes to their positions in SBNY. Pacad Investment Ltd. acquired a new stake in Signature Bank during the second quarter valued at approximately $100,000. YorkBridge Wealth Partners LLC raised its stake in Signature Bank by 6.3% during the second quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock valued at $100,000 after buying an additional 41 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Signature Bank during the first quarter valued at approximately $127,000. Commonwealth Bank of Australia raised its stake in Signature Bank by 5.1% during the second quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock valued at $176,000 after buying an additional 60 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its stake in Signature Bank by 1.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock valued at $202,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Signature Bank Company Profile

Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.

Earnings History and Estimates for Signature Bank (NASDAQ:SBNY)

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