Signature Bank (NASDAQ:SBNY) – Investment analysts at Wedbush issued their FY2020 EPS estimates for Signature Bank in a report released on Wednesday, September 26th. Wedbush analyst D. Chiaverini expects that the bank will earn $11.85 per share for the year. Wedbush currently has a “Neutral” rating and a $131.00 price target on the stock.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Thursday, July 19th. The bank reported $2.83 earnings per share for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $334.00 million. During the same period in the previous year, the company earned $2.21 earnings per share.
SBNY has been the subject of several other reports. BMO Capital Markets cut shares of Signature Bank from an “outperform” rating to a “market perform” rating and set a $171.00 price objective for the company. in a report on Friday, July 20th. BidaskClub cut shares of Signature Bank from a “sell” rating to a “strong sell” rating in a report on Friday, July 27th. ValuEngine cut shares of Signature Bank from a “sell” rating to a “strong sell” rating in a report on Monday, June 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $150.00 target price on shares of Signature Bank in a report on Friday, July 20th. Finally, JPMorgan Chase & Co. cut shares of Signature Bank from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $150.00 to $130.00 in a report on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $151.36.
SBNY opened at $114.84 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.98 and a quick ratio of 0.96. Signature Bank has a twelve month low of $108.89 and a twelve month high of $161.92. The company has a market cap of $6.19 billion, a PE ratio of 12.88, a P/E/G ratio of 0.94 and a beta of 1.03.
A number of hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP bought a new position in shares of Signature Bank in the first quarter worth approximately $410,000. Suntrust Banks Inc. boosted its position in shares of Signature Bank by 4.7% in the first quarter. Suntrust Banks Inc. now owns 22,926 shares of the bank’s stock worth $3,252,000 after purchasing an additional 1,033 shares during the period. Hermes Investment Management Ltd. boosted its position in shares of Signature Bank by 2.3% in the second quarter. Hermes Investment Management Ltd. now owns 239,339 shares of the bank’s stock worth $30,607,000 after purchasing an additional 5,355 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Signature Bank by 234.5% in the first quarter. Cubist Systematic Strategies LLC now owns 4,750 shares of the bank’s stock worth $674,000 after purchasing an additional 3,330 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Signature Bank by 1.1% in the second quarter. Rhumbline Advisers now owns 101,866 shares of the bank’s stock worth $13,027,000 after purchasing an additional 1,124 shares during the period. 95.70% of the stock is owned by institutional investors and hedge funds.
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.