Brokers Issue Forecasts for Signature Bank’s Q3 2019 Earnings (NASDAQ:SBNY)

Signature Bank (NASDAQ:SBNY) – Equities researchers at Jefferies Financial Group lifted their Q3 2019 earnings per share (EPS) estimates for shares of Signature Bank in a research note issued on Tuesday, July 9th. Jefferies Financial Group analyst C. Haire now anticipates that the bank will post earnings per share of $2.83 for the quarter, up from their previous forecast of $2.82. Jefferies Financial Group also issued estimates for Signature Bank’s Q4 2019 earnings at $2.92 EPS.

Other equities analysts have also recently issued reports about the company. BidaskClub raised YRC Worldwide from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Morgan Stanley raised Dongfeng Motor Group from an “equal weight” rating to an “overweight” rating in a report on Monday, July 1st. Raymond James cut First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. Wedbush reaffirmed an “outperform” rating and set a $124.00 price objective on shares of New Relic in a report on Wednesday, May 15th. Finally, FIG Partners cut Signature Bank from an “outperform” rating to a “market perform” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $144.77.

SBNY opened at $127.60 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.19. The company has a 50 day simple moving average of $118.96. The firm has a market cap of $6.97 billion, a PE ratio of 11.31, a P/E/G ratio of 1.06 and a beta of 1.36. Signature Bank has a 12 month low of $98.54 and a 12 month high of $137.93.

Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Wednesday, April 17th. The bank reported $2.65 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.11). The business had revenue of $325.08 million during the quarter, compared to analyst estimates of $332.35 million. Signature Bank had a net margin of 34.17% and a return on equity of 14.15%. During the same period in the prior year, the business earned $2.69 earnings per share.

Institutional investors have recently added to or reduced their stakes in the business. Somerset Trust Co increased its position in Signature Bank by 153.6% during the first quarter. Somerset Trust Co now owns 213 shares of the bank’s stock worth $27,000 after buying an additional 129 shares in the last quarter. Pearl River Capital LLC purchased a new stake in shares of Signature Bank in the first quarter valued at $44,000. Fort L.P. purchased a new stake in shares of Signature Bank in the fourth quarter valued at $60,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Signature Bank in the first quarter valued at $81,000. Finally, ETF Managers Group LLC grew its position in shares of Signature Bank by 11.1% in the first quarter. ETF Managers Group LLC now owns 1,015 shares of the bank’s stock valued at $130,000 after purchasing an additional 101 shares during the period. 92.14% of the stock is owned by institutional investors.

Signature Bank Company Profile

Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.

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

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