Equities research analysts expect Signature Bank (NASDAQ:SBNY) to post $332.08 million in sales for the current fiscal quarter, according to Zacks. Eighteen analysts have provided estimates for Signature Bank’s earnings. The highest sales estimate is $340.64 million and the lowest is $324.19 million. Signature Bank reported sales of $325.35 million during the same quarter last year, which indicates a positive year over year growth rate of 2.1%. The company is expected to announce its next earnings results on Thursday, April 18th.
On average, analysts expect that Signature Bank will report full-year sales of $1.38 billion for the current year, with estimates ranging from $1.35 billion to $1.42 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.49 billion, with estimates ranging from $1.44 billion to $1.53 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Signature Bank.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, January 17th. The bank reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.15. Signature Bank had a return on equity of 14.70% and a net margin of 29.17%. The firm had revenue of $340.95 million during the quarter, compared to analyst estimates of $331.47 million. During the same quarter last year, the firm earned $2.43 EPS.
NASDAQ SBNY traded up $0.37 during mid-day trading on Wednesday, reaching $133.41. 240,230 shares of the company’s stock traded hands, compared to its average volume of 448,720. Signature Bank has a 1-year low of $98.54 and a 1-year high of $158.79. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 1.19. The firm has a market cap of $7.33 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.37.
The company also recently announced a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Friday, February 1st were given a $0.56 dividend. The ex-dividend date was Thursday, January 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.68%. Signature Bank’s payout ratio is 19.86%.
Institutional investors and hedge funds have recently modified their holdings of the company. Fort L.P. acquired a new position in shares of Signature Bank in the 4th quarter worth approximately $60,000. Enlightenment Research LLC acquired a new position in shares of Signature Bank in the 4th quarter worth approximately $93,000. ETF Managers Group LLC grew its position in shares of Signature Bank by 15.5% in the 4th quarter. ETF Managers Group LLC now owns 914 shares of the bank’s stock worth $94,000 after acquiring an additional 123 shares in the last quarter. Paradigm Asset Management Co. LLC acquired a new position in shares of Signature Bank in the 3rd quarter worth approximately $115,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Signature Bank by 11.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,145 shares of the bank’s stock worth $118,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.
About Signature Bank
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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