Wall Street brokerages expect that Signature Bank (NASDAQ:SBNY) will announce earnings of $2.23 per share for the current quarter, according to Zacks Investment Research. Seventeen analysts have issued estimates for Signature Bank’s earnings. The highest EPS estimate is $2.32 and the lowest is $2.18. Signature Bank reported earnings of $2.11 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The company is scheduled to report its next earnings results on Thursday, January 18th.

On average, analysts expect that Signature Bank will report full-year earnings of $7.25 per share for the current financial year, with EPS estimates ranging from $7.20 to $7.37. For the next year, analysts expect that the business will post earnings of $9.42 per share, with EPS estimates ranging from $9.00 to $10.35. Zacks’ EPS calculations are an average based on a survey of analysts that follow Signature Bank.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.10. The firm had revenue of $316.94 million during the quarter, compared to analysts’ expectations of $322.22 million. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. During the same period in the previous year, the business posted $2.11 EPS.

Several analysts have weighed in on the company. TheStreet raised Signature Bank from a “c+” rating to a “b” rating in a report on Wednesday, November 29th. JMP Securities began coverage on Signature Bank in a report on Monday, November 20th. They set an “outperform” rating and a $160.00 price objective for the company. Morgan Stanley lowered Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 target price for the company. in a research report on Monday, November 6th. Jefferies Group restated a “buy” rating and set a $155.00 target price on shares of Signature Bank in a research report on Tuesday, October 24th. Finally, Barclays set a $140.00 target price on Signature Bank and gave the stock a “buy” rating in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. Signature Bank presently has an average rating of “Buy” and an average target price of $155.13.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC acquired a new position in shares of Signature Bank in the 3rd quarter valued at approximately $115,000. Public Employees Retirement System of Ohio grew its position in shares of Signature Bank by 0.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,819 shares of the bank’s stock valued at $8,427,000 after purchasing an additional 478 shares during the period. California Public Employees Retirement System grew its position in shares of Signature Bank by 8.4% in the 3rd quarter. California Public Employees Retirement System now owns 118,060 shares of the bank’s stock valued at $15,116,000 after purchasing an additional 9,160 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Signature Bank by 3.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 17,895 shares of the bank’s stock valued at $2,291,000 after purchasing an additional 559 shares during the period. Finally, Zions Bancorporation acquired a new position in shares of Signature Bank in the 3rd quarter valued at approximately $152,000. Institutional investors and hedge funds own 96.33% of the company’s stock.

Shares of Signature Bank (SBNY) opened at $137.57 on Monday. The firm has a market capitalization of $7,385.17, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.76 and a beta of 1.02. Signature Bank has a twelve month low of $116.68 and a twelve month high of $164.23. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71.

WARNING: “Zacks: Brokerages Expect Signature Bank (SBNY) Will Post Earnings of $2.23 Per Share” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/12/11/zacks-brokerages-expect-signature-bank-sbny-will-post-earnings-of-2-23-per-share.html.

About Signature Bank

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.

Get a free copy of the Zacks research report on Signature Bank (SBNY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.