FY2018 EPS Estimates for Signature Bank Boosted by Jefferies Group (SBNY)

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.

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

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