Signature Bank (SBNY) to Release Quarterly Earnings on Tuesday

Signature Bank (NASDAQ:SBNYGet Rating) will be posting its quarterly earnings results before the market opens on Tuesday, April 19th. Analysts expect Signature Bank to post earnings of $4.31 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Signature Bank (NASDAQ:SBNYGet Rating) last announced its quarterly earnings data on Tuesday, January 18th. The bank reported $4.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.97 by $0.37. Signature Bank had a net margin of 39.74% and a return on equity of 12.66%. The business had revenue of $569.38 million during the quarter, compared to the consensus estimate of $548.69 million. During the same quarter in the prior year, the firm earned $3.26 EPS. On average, analysts expect Signature Bank to post $20 EPS for the current fiscal year and $26 EPS for the next fiscal year.

Shares of NASDAQ:SBNY opened at $265.91 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.41. Signature Bank has a fifty-two week low of $216.00 and a fifty-two week high of $374.76. The firm has a 50-day simple moving average of $309.42 and a 200 day simple moving average of $315.04. The company has a market cap of $16.12 billion, a PE ratio of 17.69, a P/E/G ratio of 1.37 and a beta of 1.77.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 11th. Investors of record on Friday, January 28th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Thursday, January 27th. Signature Bank’s dividend payout ratio is presently 14.90%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in Signature Bank by 50.4% during the 2nd quarter. Morgan Stanley now owns 227,257 shares of the bank’s stock worth $55,826,000 after acquiring an additional 76,141 shares during the last quarter. Barclays PLC lifted its stake in Signature Bank by 75.0% in the fourth quarter. Barclays PLC now owns 204,894 shares of the bank’s stock valued at $66,274,000 after buying an additional 87,814 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in Signature Bank by 27.4% in the fourth quarter. Parametric Portfolio Associates LLC now owns 163,556 shares of the bank’s stock valued at $52,906,000 after buying an additional 35,195 shares in the last quarter. Deutsche Bank AG lifted its stake in Signature Bank by 154.3% in the fourth quarter. Deutsche Bank AG now owns 114,185 shares of the bank’s stock valued at $36,936,000 after buying an additional 69,276 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Signature Bank by 9.1% in the fourth quarter. California State Teachers Retirement System now owns 110,331 shares of the bank’s stock valued at $35,689,000 after buying an additional 9,158 shares in the last quarter. 93.77% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on SBNY shares. Stephens boosted their price objective on shares of Signature Bank from $380.00 to $415.00 and gave the company an “overweight” rating in a research report on Wednesday, January 19th. Compass Point reissued a “buy” rating on shares of Signature Bank in a research note on Tuesday, January 18th. Raymond James reduced their target price on shares of Signature Bank from $445.00 to $430.00 and set a “strong-buy” rating for the company in a research note on Monday, March 14th. Wedbush upped their price target on shares of Signature Bank from $375.00 to $415.00 in a research note on Wednesday, January 19th. Finally, Janney Montgomery Scott raised shares of Signature Bank from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 19th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $379.62.

Signature Bank Company Profile (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.

Further Reading

Earnings History for Signature Bank (NASDAQ:SBNY)

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