$345.71 Million in Sales Expected for Signature Bank (NASDAQ:SBNY) This Quarter
Brokerages predict that Signature Bank (NASDAQ:SBNY) will announce $345.71 million in sales for the current quarter, Zacks Investment Research reports. Fifteen analysts have made estimates for Signature Bank’s earnings, with the highest sales estimate coming in at $351.10 million and the lowest estimate coming in at $331.78 million. Signature Bank posted sales of $325.08 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.3%. The company is expected to announce its next earnings results on Wednesday, April 15th.
According to Zacks, analysts expect that Signature Bank will report full-year sales of $1.44 billion for the current financial year, with estimates ranging from $1.39 billion to $1.46 billion. For the next financial year, analysts expect that the business will post sales of $1.58 billion, with estimates ranging from $1.52 billion to $1.63 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Signature Bank.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $2.78 EPS for the quarter, beating the Zacks’ consensus estimate of $2.69 by $0.09. The company had revenue of $345.58 million for the quarter, compared to analysts’ expectations of $335.91 million. During the same period in the previous year, the firm posted $2.94 earnings per share.
SBNY traded down $0.04 on Tuesday, reaching $144.36. 184,702 shares of the company traded hands. The stock’s 50 day moving average price is $140.78 and its 200-day moving average price is $127.07. Signature Bank has a 52-week low of $111.91 and a 52-week high of $148.64.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Thursday, January 30th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. NumerixS Investment Technologies Inc acquired a new stake in Signature Bank in the fourth quarter valued at approximately $55,000. Advisory Services Network LLC lifted its stake in Signature Bank by 45.1% in the fourth quarter. Advisory Services Network LLC now owns 457 shares of the bank’s stock valued at $62,000 after acquiring an additional 142 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Signature Bank by 174.1% in the third quarter. Meeder Asset Management Inc. now owns 1,313 shares of the bank’s stock valued at $157,000 after acquiring an additional 834 shares during the last quarter. Ingalls & Snyder LLC acquired a new stake in Signature Bank in the fourth quarter valued at approximately $201,000. Finally, Cigna Investments Inc. New acquired a new stake in Signature Bank in the fourth quarter valued at approximately $204,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.
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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