Jefferies Financial Group Weighs in on Signature Bank’s FY2022 Earnings (NASDAQ:SBNY)

Signature Bank (NASDAQ:SBNYGet Rating) – Jefferies Financial Group increased their FY2022 EPS estimates for Signature Bank in a research note issued to investors on Monday, April 11th. Jefferies Financial Group analyst C. Haire now expects that the bank will post earnings of $21.35 per share for the year, up from their previous forecast of $19.80. Jefferies Financial Group also issued estimates for Signature Bank’s Q3 2023 earnings at $6.80 EPS and Q4 2023 earnings at $7.09 EPS.

SBNY has been the topic of a number of other reports. Wells Fargo & Company increased their price target on shares of Signature Bank from $400.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 19th. Stephens boosted their target price on Signature Bank from $380.00 to $415.00 and gave the company an “overweight” rating in a research note on Wednesday, January 19th. Janney Montgomery Scott raised shares of Signature Bank from a “neutral” rating to a “buy” rating in a report on Wednesday, January 19th. Compass Point reissued a “buy” rating on shares of Signature Bank in a research note on Tuesday, January 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Signature Bank from $400.00 to $440.00 and gave the company an “overweight” rating in a research report on Wednesday, January 19th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $379.62.

Shares of SBNY opened at $274.21 on Wednesday. The business has a 50-day moving average of $311.67 and a 200 day moving average of $314.88. Signature Bank has a fifty-two week low of $216.00 and a fifty-two week high of $374.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $16.63 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 1.38 and a beta of 1.77.

Signature Bank (NASDAQ:SBNYGet Rating) last announced its earnings results on Tuesday, January 18th. The bank reported $4.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.97 by $0.37. The firm had revenue of $569.38 million for the quarter, compared to the consensus estimate of $548.69 million. Signature Bank had a return on equity of 12.66% and a net margin of 39.74%. During the same quarter in the previous year, the business earned $3.26 EPS.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 11th. Investors of record on Friday, January 28th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Thursday, January 27th. Signature Bank’s dividend payout ratio (DPR) is 14.90%.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in Signature Bank by 2.5% during the 3rd quarter. BlackRock Inc. now owns 5,285,183 shares of the bank’s stock worth $1,439,050,000 after buying an additional 129,769 shares during the last quarter. State Street Corp increased its holdings in shares of Signature Bank by 53.1% during the fourth quarter. State Street Corp now owns 3,034,921 shares of the bank’s stock valued at $981,706,000 after acquiring an additional 1,052,338 shares in the last quarter. Capital International Investors purchased a new position in shares of Signature Bank in the 4th quarter valued at approximately $599,227,000. Invesco Ltd. boosted its stake in Signature Bank by 31.7% in the 4th quarter. Invesco Ltd. now owns 1,474,903 shares of the bank’s stock worth $477,086,000 after purchasing an additional 354,746 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Signature Bank by 50.3% during the 4th quarter. Geode Capital Management LLC now owns 1,164,486 shares of the bank’s stock worth $375,710,000 after purchasing an additional 389,849 shares during the last quarter. Institutional investors and hedge funds own 93.77% of the company’s stock.

About Signature Bank (Get Rating)

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 provides various lending products comprising commercial and industrial loans, real estate loans, and letters of credit.

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

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