Signature Bank to Post Q3 2017 Earnings of $2.16 Per Share, Keefe, Bruyette & Woods Forecasts (SBNY)
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.
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