Signature Bank (NASDAQ:SBNY) – Analysts at Jefferies Group increased their FY2018 earnings per share (EPS) estimates for shares of Signature Bank in a research note issued to investors on Tuesday, Zacks Investment Research reports. Jefferies Group analyst C. Haire now expects that the bank will earn $10.60 per share for the year, up from their previous forecast of $10.45. Jefferies Group has a “Buy” rating and a $175.00 price objective on the stock.
SBNY has been the subject of a number of other reports. Deutsche Bank AG reissued a “buy” rating and issued a $181.00 target price on shares of Signature Bank in a research report on Tuesday, January 24th. Barclays PLC increased their price objective on Signature Bank from $163.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, January 20th. Keefe, Bruyette & Woods set a $164.00 price objective on Signature Bank and gave the stock a “buy” rating in a research report on Monday, April 3rd. BMO Capital Markets reaffirmed a “hold” rating and set a $170.00 price objective on shares of Signature Bank in a research report on Wednesday, March 22nd. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $183.00 price objective (up from $167.00) on shares of Signature Bank in a research report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Signature Bank has a consensus rating of “Buy” and a consensus target price of $165.00.
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Shares of Signature Bank (NASDAQ:SBNY) traded down 0.2359% during midday trading on Thursday, reaching $139.6199. The company had a trading volume of 375,073 shares. The company’s 50 day moving average price is $148.72 and its 200-day moving average price is $145.16. Signature Bank has a 52 week low of $113.53 and a 52 week high of $164.23. The company has a market capitalization of $7.62 billion, a P/E ratio of 18.9444 and a beta of 0.94.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Wednesday, April 19th. The bank reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.05. Signature Bank had a return on equity of 12.36% and a net margin of 29.14%. The company had revenue of $311.63 million for the quarter, compared to the consensus estimate of $311.70 million. During the same quarter last year, the company earned $1.97 earnings per share.
Institutional investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. increased its position in Signature Bank by 12.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 842 shares of the bank’s stock valued at $126,000 after buying an additional 96 shares during the last quarter. Israel Discount Bank of New York GFN purchased a new position in Signature Bank during the fourth quarter valued at $150,000. PNC Financial Services Group Inc. increased its position in Signature Bank by 10.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,278 shares of the bank’s stock valued at $150,000 after buying an additional 126 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Signature Bank by 9.0% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 1,375 shares of the bank’s stock valued at $163,000 after buying an additional 114 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Signature Bank by 31.8% in the third quarter. Daiwa Securities Group Inc. now owns 1,450 shares of the bank’s stock valued at $172,000 after buying an additional 350 shares during the last quarter. 89.89% of the stock is owned by hedge funds and other institutional investors.
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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