Signature Bank (NASDAQ:SBNY – Get Rating) is expected to release quarterly earnings data before market open on Tuesday, July 19. Analysts expect the company to report earnings of $5.12 per share for the quarter. Those interested in participating in the company’s earnings conference call can do so using this link.
Signature Bank (NASDAQ:SBNY – Get Rating) last released its results on Tuesday, April 19. The bank reported earnings per share of $5.30 for the quarter, beating the consensus estimate of $4.31 by $0.99. Signature Bank had a return on equity of 13.97% and a net margin of 43.29%. The company posted revenue of $607.96 million for the quarter, versus $608.85 million expected by analysts. During the same period a year earlier, the company posted EPS of $3.24. On average, analysts expect Signature Bank to post EPS of $22 for the current fiscal year and EPS of $26 for the next fiscal year.
Signature Bank trades up 4.4%
SBNY opened at $191.41 on Friday. Signature Bank has a one-year low of $165.36 and a one-year high of $374.76. The stock has a market capitalization of $11.61 billion, a PE ratio of 11.20, a P/E/G ratio of 0.88 and a beta of 1.80. The company’s 50-day moving average price is $194.57 and its 200-day moving average price is $268.60. The company has a debt ratio of 0.37, a quick ratio of 0.84 and a current ratio of 0.85.
Signature Bank announces dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 13. Shareholders of record on Friday, April 29 received a dividend of $0.56 per share. This represents a dividend of $2.24 on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Thursday, April 28. Signature Bank’s dividend payout ratio is currently 13.11%.
A Wall Street analyst gives his opinion
SBNY has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered its price target on Signature Bank shares from $460.00 to $300.00 and set an “overweight” rating for the company in a Friday, July 1 research note. TheStreet upgraded Signature Bank’s shares from a ‘b’ rating to a ‘c+’ rating in a report released Wednesday. Piper Sandler lowered her price target on Signature Bank shares from $375.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, May 20. Wedbush lowered its price target on Signature Bank shares from $415.00 to $375.00 and set a “buy” rating on the stock in a Wednesday, April 20 report. Finally, Goldman Sachs Group lowered its price target on Signature Bank shares from $377.00 to $265.00 and set a “buy” rating on the stock in a Tuesday, May 31 report. One investment analyst gave the stock a hold rating, thirteen gave the stock a buy rating and one gave the stock a high buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $315.85.
Signature Bank Institutional Trading
Hedge funds and other institutional investors have recently changed their positions in the company. APG Asset Management NV increased its position in Signature Bank by 50.0% during the first quarter. APG Asset Management NV now owns 2,700 shares in the bank worth $712,000 after purchasing an additional 900 shares during the period. Atria Wealth Solutions Inc. acquired a new position in Signature Bank stock in the first quarter valued at approximately $693,000. IHT Wealth Management LLC increased its stake in Signature Bank shares by 2.7% in the first quarter. IHT Wealth Management LLC now owns 2,296 shares of the bank valued at $674,000 after purchasing an additional 60 shares during the period. Echo Street Capital Management LLC acquired a new stake in Signature Bank in the first quarter worth approximately $651,000. Finally, Engineers Gate Manager LP acquired a new stake in Signature Bank in the first quarter valued at approximately $602,000. 96.17% of the shares are currently held by institutional investors and hedge funds.
Corporate Profile Signature Bank
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Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The Company offers various loan products including commercial and industrial loans, real estate loans and letters of credit.
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