Signature Bank (NASDAQ:SBNY) – Stock analysts at Jefferies Group lifted their Q3 2017 earnings estimates for shares of Signature Bank in a research report issued to clients and investors on Wednesday. Jefferies Group analyst C. Haire now expects that the bank will post earnings per share of $2.24 for the quarter, up from their prior estimate of $2.22. Jefferies Group has a “Buy” rating and a $145.00 price target on the stock. Jefferies Group also issued estimates for Signature Bank’s Q4 2017 earnings at $2.32 EPS and FY2017 earnings at $7.29 EPS.
Several other brokerages have also commented on SBNY. Deutsche Bank AG cut their price objective on Signature Bank from $178.00 to $162.00 and set a “buy” rating for the company in a report on Thursday, July 20th. BidaskClub downgraded Signature Bank from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Hovde Group upgraded Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 target price on the stock in a research report on Monday. Wedbush reiterated an “outperform” rating and set a $165.00 target price on shares of Signature Bank in a research report on Tuesday, June 27th. Finally, Barclays PLC reiterated an “overweight” rating and set a $170.00 target price (down from $175.00) on shares of Signature Bank in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $163.57.
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Shares of Signature Bank (NASDAQ SBNY) opened at 125.93 on Monday. The company has a market capitalization of $6.81 billion, a PE ratio of 20.17 and a beta of 0.97. Signature Bank has a 52 week low of $113.53 and a 52 week high of $164.23. The stock has a 50 day moving average price of $131.49 and a 200-day moving average price of $141.32.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Wednesday, July 19th. The bank reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by $0.01. The company had revenue of $316.79 million during the quarter, compared to the consensus estimate of $324.44 million. Signature Bank had a net margin of 23.62% and a return on equity of 12.61%. During the same period last year, the company earned $1.90 earnings per share.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Signature Bank by 6,271.9% in the first quarter. BlackRock Inc. now owns 4,730,210 shares of the bank’s stock valued at $701,915,000 after purchasing an additional 4,655,975 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Signature Bank by 1.3% in the second quarter. Vanguard Group Inc. now owns 4,277,955 shares of the bank’s stock valued at $614,014,000 after purchasing an additional 54,545 shares during the period. Capital Research Global Investors boosted its holdings in shares of Signature Bank by 2.6% in the second quarter. Capital Research Global Investors now owns 2,894,365 shares of the bank’s stock valued at $415,428,000 after purchasing an additional 72,806 shares during the period. State Street Corp boosted its holdings in shares of Signature Bank by 0.4% in the second quarter. State Street Corp now owns 2,624,668 shares of the bank’s stock valued at $376,718,000 after purchasing an additional 9,285 shares during the period. Finally, Alecta Pensionsforsakring Omsesidigt boosted its holdings in shares of Signature Bank by 7.8% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,341,200 shares of the bank’s stock valued at $336,032,000 after purchasing an additional 168,772 shares during the period. 95.80% of the stock is currently owned by hedge funds and other institutional investors.
About Signature Bank
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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