$682.14 Million in Sales Expected for Signature Bank (NASDAQ:SBNY) This Quarter

Equities analysts forecast that Signature Bank (NASDAQ:SBNYGet Rating) will announce sales of $682.14 million for the current fiscal quarter, according to Zacks Investment Research. Fifteen analysts have issued estimates for Signature Bank’s earnings, with the highest sales estimate coming in at $752.39 million and the lowest estimate coming in at $643.20 million. Signature Bank reported sales of $480.59 million during the same quarter last year, which indicates a positive year-over-year growth rate of 41.9%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Signature Bank will report full-year sales of $2.84 billion for the current fiscal year, with estimates ranging from $2.63 billion to $3.15 billion. For the next financial year, analysts expect that the company will post sales of $3.55 billion, with estimates ranging from $3.14 billion to $3.88 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Signature Bank.

Signature Bank (NASDAQ:SBNYGet Rating) last announced its earnings results on Tuesday, April 19th. The bank reported $5.30 earnings per share for the quarter, topping analysts’ consensus estimates of $4.31 by $0.99. The business had revenue of $607.96 million during the quarter, compared to the consensus estimate of $608.85 million. Signature Bank had a net margin of 43.29% and a return on equity of 13.97%. During the same quarter last year, the firm earned $3.24 earnings per share.

Several equities analysts have commented on SBNY shares. Wedbush cut their price target on Signature Bank from $415.00 to $375.00 and set a “buy” rating for the company in a report on Wednesday, April 20th. Piper Sandler reduced their target price on shares of Signature Bank from $375.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. upped their price target on Signature Bank from $440.00 to $460.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Raymond James decreased their target price on Signature Bank from $400.00 to $350.00 in a research note on Monday, May 16th. Finally, Morgan Stanley decreased their target price on Signature Bank from $508.00 to $428.00 and set an “overweight” rating for the company in a research report on Monday, March 28th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $377.92.

Institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in Signature Bank in the first quarter valued at $29,000. JCSD Capital LLC purchased a new stake in shares of Signature Bank in the first quarter worth about $29,000. Blume Capital Management Inc. bought a new position in shares of Signature Bank in the first quarter worth approximately $29,000. Quent Capital LLC lifted its stake in Signature Bank by 152.5% in the first quarter. Quent Capital LLC now owns 101 shares of the bank’s stock worth $30,000 after acquiring an additional 61 shares during the period. Finally, Cambridge Trust Co. lifted its holdings in Signature Bank by 1,018.2% in the 1st quarter. Cambridge Trust Co. now owns 123 shares of the bank’s stock worth $36,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 96.17% of the company’s stock.

Shares of SBNY opened at $190.89 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.84 and a current ratio of 0.85. Signature Bank has a 1 year low of $179.05 and a 1 year high of $374.76. The stock has a 50-day simple moving average of $263.64 and a 200-day simple moving average of $303.30. The stock has a market capitalization of $11.57 billion, a PE ratio of 11.17, a PEG ratio of 0.90 and a beta of 1.78.

The business also recently announced a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, April 28th. Signature Bank’s payout ratio is currently 13.11%.

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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