Signature Bank (NASDAQ:SBNY) – Equities research analysts at Jefferies Group decreased their FY2017 EPS estimates for Signature Bank in a research note issued on Monday. Jefferies Group analyst C. Haire now anticipates that the bank will post earnings of $7.20 per share for the year, down from their previous forecast of $7.29. Jefferies Group has a “Buy” rating and a $145.00 price objective on the stock. Jefferies Group also issued estimates for Signature Bank’s Q4 2017 earnings at $2.25 EPS, Q1 2018 earnings at $2.20 EPS, Q2 2018 earnings at $2.31 EPS, Q3 2018 earnings at $2.38 EPS and Q4 2018 earnings at $2.46 EPS.

Signature Bank (NASDAQ:SBNY) last released its earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.01). The company had revenue of $316.79 million during the quarter, compared to analyst estimates 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 in the previous year, the firm posted $1.90 EPS.

ILLEGAL ACTIVITY NOTICE: “FY2017 Earnings Estimate for Signature Bank (SBNY) Issued By Jefferies Group” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and republished in violation of international copyright laws. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/10/13/fy2017-earnings-estimate-for-signature-bank-sbny-issued-by-jefferies-group.html.

Several other analysts have also recently commented on the company. Barclays PLC set a $145.00 target price on Signature Bank and gave the company a “buy” rating in a research report on Wednesday. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $142.00 price target on shares of Signature Bank in a research report on Tuesday, October 3rd. FIG Partners restated an “outperform” rating and issued a $150.00 target price on shares of Signature Bank in a report on Monday, October 2nd. Bank of America Corporation restated a “buy” rating and issued a $165.00 target price (down from $175.00) on shares of Signature Bank in a report on Wednesday, September 20th. Finally, Wedbush cut Signature Bank from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $157.00 to $126.00 in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $155.60.

Signature Bank (SBNY) opened at 124.56 on Thursday. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 19.96 and a beta of 0.96. Signature Bank has a 12-month low of $113.53 and a 12-month high of $164.23. The stock has a 50 day moving average price of $125.29 and a 200-day moving average price of $136.23.

Several institutional investors have recently modified their holdings of SBNY. Pacad Investment Ltd. acquired a new stake in Signature Bank during the second quarter valued at $100,000. YorkBridge Wealth Partners LLC boosted its position 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 purchasing an additional 41 shares during the last quarter. Commonwealth Bank of Australia boosted its position 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 purchasing an additional 60 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position 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 purchasing an additional 21 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Signature Bank during the first quarter valued at $219,000. 95.78% of the stock is owned by institutional investors and hedge funds.

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.

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

Receive News & Stock Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related stocks with our FREE daily email newsletter.