Signature Bank (NASDAQ:SBNY) – Analysts at Wedbush dropped their Q3 2018 earnings estimates for Signature Bank in a research report issued on Thursday, July 19th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings per share of $2.84 for the quarter, down from their previous estimate of $2.90. Wedbush currently has a “Neutral” rating and a $131.00 target price on the stock. Wedbush also issued estimates for Signature Bank’s Q4 2018 earnings at $2.82 EPS, Q1 2019 earnings at $2.69 EPS, Q2 2019 earnings at $2.76 EPS, Q3 2019 earnings at $2.84 EPS, Q4 2019 earnings at $2.86 EPS and FY2019 earnings at $11.15 EPS.

Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Thursday, July 19th. The bank reported $2.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.80 by $0.03. Signature Bank had a net margin of 26.76% and a return on equity of 13.84%. The firm had revenue of $326.63 million for the quarter, compared to analyst estimates of $334.00 million. During the same quarter last year, the firm posted $2.21 earnings per share.

SBNY has been the topic of several other research reports. BMO Capital Markets lowered shares of Signature Bank from an “outperform” rating to a “market perform” rating and set a $171.00 price target on the stock. in a report on Friday. JPMorgan Chase & Co. lowered shares of Signature Bank from an “overweight” rating to a “neutral” rating and cut their price target for the company from $150.00 to $130.00 in a report on Friday. BidaskClub lowered shares of Signature Bank from a “hold” rating to a “sell” rating in a report on Saturday, April 7th. Jefferies Financial Group restated a “buy” rating and issued a $161.00 price target on shares of Signature Bank in a report on Friday, April 20th. Finally, ValuEngine lowered shares of Signature Bank from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Signature Bank currently has an average rating of “Hold” and an average price target of $153.67.

NASDAQ SBNY opened at $119.87 on Monday. Signature Bank has a one year low of $115.00 and a one year high of $161.92. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.95 and a current ratio of 0.98. The company has a market capitalization of $6.59 billion, a P/E ratio of 13.45, a price-to-earnings-growth ratio of 0.99 and a beta of 1.16.

Large investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in Signature Bank in the first quarter valued at approximately $410,000. MetLife Investment Advisors LLC acquired a new stake in Signature Bank in the fourth quarter valued at approximately $4,662,000. Suntrust Banks Inc. grew its position in Signature Bank by 4.7% in the first quarter. Suntrust Banks Inc. now owns 22,926 shares of the bank’s stock valued at $3,252,000 after acquiring an additional 1,033 shares in the last quarter. Dubuque Bank & Trust Co. acquired a new stake in Signature Bank in the first quarter valued at approximately $2,675,000. Finally, Teachers Advisors LLC grew its position in Signature Bank by 9.4% in the fourth quarter. Teachers Advisors LLC now owns 64,771 shares of the bank’s stock valued at $8,890,000 after acquiring an additional 5,564 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

The company also recently disclosed an annual dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 1st will be given a $0.56 dividend. This represents a yield of 0.47%. The ex-dividend date is Tuesday, July 31st.

Signature Bank Company Profile

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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