Signature Bank (NASDAQ:SBNY) – Research analysts at Wedbush lifted their Q2 2020 earnings estimates for shares of Signature Bank in a research report issued to clients and investors on Monday, June 29th. Wedbush analyst D. Chiaverini now expects that the bank will earn $2.80 per share for the quarter, up from their previous forecast of $2.72. Wedbush currently has a “Outperform” rating and a $127.00 target price on the stock. Wedbush also issued estimates for Signature Bank’s Q3 2020 earnings at $3.30 EPS, Q4 2020 earnings at $3.27 EPS, FY2020 earnings at $11.25 EPS and FY2021 earnings at $13.65 EPS.

SBNY has been the subject of several other research reports. Bank of America raised their price target on shares of Signature Bank from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, April 24th. UBS Group lifted their price objective on shares of Signature Bank from $91.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Compass Point lifted their price objective on shares of Signature Bank from $105.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Morgan Stanley lifted their price objective on shares of Signature Bank from $133.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Finally, Raymond James decreased their price objective on shares of Signature Bank from $168.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Tuesday, March 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $125.69.

Shares of SBNY stock opened at $106.92 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.07. Signature Bank has a 52 week low of $68.98 and a 52 week high of $148.64. The stock has a market capitalization of $5.61 billion, a PE ratio of 10.55, a P/E/G ratio of 1.16 and a beta of 1.77. The firm has a 50 day moving average of $103.49 and a two-hundred day moving average of $114.85.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.19 by ($0.31). Signature Bank had a net margin of 27.75% and a return on equity of 11.50%. The business had revenue of $362.44 million during the quarter, compared to analysts’ expectations of $343.96 million. During the same period in the prior year, the business earned $2.69 EPS.

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in Signature Bank by 1.2% during the 1st quarter. Royal Bank of Canada now owns 257,076 shares of the bank’s stock worth $20,667,000 after acquiring an additional 3,043 shares during the period. New Mexico Educational Retirement Board lifted its position in Signature Bank by 35.8% during the 1st quarter. New Mexico Educational Retirement Board now owns 12,900 shares of the bank’s stock worth $1,037,000 after acquiring an additional 3,400 shares during the period. State of Tennessee Treasury Department lifted its holdings in shares of Signature Bank by 32.8% in the 1st quarter. State of Tennessee Treasury Department now owns 60,514 shares of the bank’s stock valued at $4,865,000 after buying an additional 14,937 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Signature Bank by 2.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 77,308 shares of the bank’s stock valued at $6,215,000 after buying an additional 1,637 shares during the period. Finally, Fred Alger Management LLC lifted its holdings in shares of Signature Bank by 100.5% in the 1st quarter. Fred Alger Management LLC now owns 191,801 shares of the bank’s stock valued at $15,419,000 after buying an additional 96,128 shares during the period. 92.17% of the stock is owned by institutional investors.

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

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