FY2022 EPS Estimates for Signature Bank (NASDAQ:SBNY) Increased by Jefferies Financial Group

Signature Bank (NASDAQ:SBNYGet Rating) – Equities researchers at Jefferies Financial Group upped their FY2022 earnings estimates for Signature Bank in a report issued on Tuesday, April 19th. Jefferies Financial Group analyst C. Haire now forecasts that the bank will post earnings per share of $22.89 for the year, up from their prior forecast of $21.35. Jefferies Financial Group also issued estimates for Signature Bank’s Q4 2023 earnings at $7.08 EPS.

Other analysts have also recently issued research reports about the stock. Stephens upped their price target 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 reiterated a “buy” rating on shares of Signature Bank in a research note on Tuesday, January 18th. StockNews.com started coverage on shares of Signature Bank in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Janney Montgomery Scott upgraded shares of Signature Bank from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 19th. Finally, Wells Fargo & Company decreased their price target on shares of Signature Bank from $435.00 to $408.00 and set an “overweight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $373.69.

Shares of SBNY opened at $266.19 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $16.14 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.77. The firm’s fifty day simple moving average is $305.83 and its two-hundred day simple moving average is $314.82. Signature Bank has a 12 month low of $223.96 and a 12 month high of $374.76.

Signature Bank (NASDAQ:SBNYGet Rating) last posted its quarterly earnings data on Tuesday, April 19th. The bank reported $4.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.31 by $0.32. Signature Bank had a return on equity of 12.66% and a net margin of 39.74%. During the same period in the prior year, the business earned $3.24 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Friday, April 29th will be issued 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 is Thursday, April 28th. Signature Bank’s dividend payout ratio is currently 14.90%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in Signature Bank by 103.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 161 shares of the bank’s stock worth $52,000 after purchasing an additional 82 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new position in Signature Bank in the 3rd quarter worth $53,000. Trust Co. of Vermont purchased a new position in Signature Bank in the 4th quarter worth $65,000. First Horizon Advisors Inc. raised its position in Signature Bank by 180.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,310 shares of the bank’s stock worth $69,000 after purchasing an additional 843 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Signature Bank by 61.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 263 shares of the bank’s stock valued at $72,000 after acquiring an additional 100 shares during the last quarter. 93.77% of the stock is owned by institutional investors.

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.

See Also

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

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