Signature Bank (NASDAQ:SBNY) – Investment analysts at Jefferies Group increased their FY2018 earnings per share estimates for Signature Bank in a research note issued on Monday. Jefferies Group analyst C. Haire now anticipates that the bank will post earnings per share of $10.80 for the year, up from their previous estimate of $9.35. Jefferies Group has a “Buy” rating and a $155.00 price target on the stock. Jefferies Group also issued estimates for Signature Bank’s FY2019 earnings at $11.80 EPS.
Several other research analysts have also recently weighed in on the company. BMO Capital Markets reiterated a “buy” rating and set a $163.00 price target on shares of Signature Bank in a research report on Wednesday, December 20th. Morgan Stanley reduced their price target on Signature Bank from $164.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, September 15th. TheStreet upgraded Signature Bank from a “c+” rating to a “b” rating in a research report on Wednesday, November 29th. JMP Securities began coverage on Signature Bank in a research report on Monday, November 20th. They set an “outperform” rating and a $160.00 price target for the company. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $140.00 price objective on shares of Signature Bank in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. Signature Bank presently has a consensus rating of “Buy” and an average target price of $155.19.
Shares of Signature Bank (SBNY) traded up $2.90 during mid-day trading on Wednesday, reaching $147.52. The company had a trading volume of 372,300 shares, compared to its average volume of 351,112. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a market capitalization of $8,040.00, a PE ratio of 20.69, a P/E/G ratio of 1.36 and a beta of 1.02. Signature Bank has a 52 week low of $116.68 and a 52 week high of $164.23.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.10. The company 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 last year, the business earned $2.11 earnings per share.
Large investors have recently modified their holdings of the company. YorkBridge Wealth Partners LLC boosted its stake in shares of Signature Bank by 6.3% in the second quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after acquiring an additional 41 shares during the last quarter. Pacad Investment Ltd. acquired a new position in Signature Bank during the second quarter worth $100,000. Steward Partners Investment Advisory LLC acquired a new position in Signature Bank during the third quarter worth $115,000. Zions Bancorporation acquired a new position in Signature Bank during the third quarter worth $152,000. Finally, Commonwealth Bank of Australia boosted its stake in Signature Bank by 5.1% during the second quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock worth $176,000 after buying an additional 60 shares during the last quarter. 96.30% of the stock is currently owned by hedge funds and other institutional investors.
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Signature Bank Company Profile
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.
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