FY2017 Earnings Estimate for Signature Bank (SBNY) Issued By Jefferies Group
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.
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.
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