Q3 2017 Earnings Estimate for Signature Bank (SBNY) Issued By Jefferies Group

Signature Bank (NASDAQ:SBNY) – Stock analysts at Jefferies Group cut their Q3 2017 earnings per share estimates for Signature Bank in a research report issued to clients and investors on Monday. Jefferies Group analyst C. Haire now anticipates that the bank will post earnings per share of $2.22 for the quarter, down from their previous estimate of $2.24. Jefferies Group currently has a “Buy” rating and a $145.00 price target on the stock.

SBNY has been the topic of several other research reports. BidaskClub lowered shares of Signature Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Barclays PLC set a $145.00 price target on shares of Signature Bank and gave the company a “buy” rating in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $165.00 price target on shares of Signature Bank in a research note on Tuesday, June 27th. Morgan Stanley cut their price target on shares of Signature Bank from $164.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, September 15th. Finally, ValuEngine lowered shares of Signature Bank from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $155.60.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by Stock Observer and is the sole property of of Stock Observer. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.thestockobserver.com/2017/10/13/q3-2017-earnings-estimate-for-signature-bank-sbny-issued-by-jefferies-group.html. Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Wednesday, July 19th. The bank reported $2.21 earnings per share for the quarter, missing the Thomson Reuters’ 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 quarter in the prior year, the company posted $1.90 EPS.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC raised its holdings in shares of Signature Bank by 69.0% in the second quarter. Lord Abbett & CO. LLC now owns 445,535 shares of the bank’s stock valued at $63,948,000 after purchasing an additional 181,882 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Signature Bank by 77.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 5,200 shares of the bank’s stock valued at $746,000 after purchasing an additional 2,268 shares during the last quarter. Tandem Investment Advisors Inc. raised its holdings in shares of Signature Bank by 32.5% in the second quarter. Tandem Investment Advisors Inc. now owns 10,326 shares of the bank’s stock valued at $1,482,000 after purchasing an additional 2,534 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Signature Bank by 1.1% in the second quarter. Public Employees Retirement System of Ohio now owns 65,341 shares of the bank’s stock valued at $9,378,000 after purchasing an additional 685 shares during the last quarter. Finally, Koch Industries Inc. raised its holdings in shares of Signature Bank by 34,799.2% in the second quarter. Koch Industries Inc. now owns 480,562 shares of the bank’s stock valued at $477,000 after purchasing an additional 479,185 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

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.

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

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