Wall Street analysts expect Signature Bank (NASDAQ:SBNY) to report sales of $328.88 million for the current quarter, according to Zacks Investment Research. Eighteen analysts have provided estimates for Signature Bank’s earnings. The highest sales estimate is $338.11 million and the lowest is $317.72 million. Signature Bank posted sales of $311.63 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.5%. The firm is expected to announce its next earnings report on Wednesday, April 18th.
According to Zacks, analysts expect that Signature Bank will report full year sales of $328.88 million for the current year, with estimates ranging from $1.32 billion to $1.39 billion. For the next financial year, analysts forecast that the business will report sales of $1.49 billion per share, with estimates ranging from $1.41 billion to $1.58 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Signature Bank.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Thursday, January 18th. The bank reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.20. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. The company had revenue of $328.27 million during the quarter, compared to analysts’ expectations of $321.86 million. During the same period in the prior year, the business earned $2.11 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of SBNY. Harding Loevner LP raised its stake in shares of Signature Bank by 138.0% in the third quarter. Harding Loevner LP now owns 1,802,550 shares of the bank’s stock valued at $94,865,000 after purchasing an additional 1,045,206 shares in the last quarter. CI Global Investments Inc. raised its stake in Signature Bank by 176.8% during the fourth quarter. CI Global Investments Inc. now owns 920,249 shares of the bank’s stock worth $126,313,000 after acquiring an additional 587,749 shares in the last quarter. Nordea Investment Management AB raised its stake in Signature Bank by 44.6% during the third quarter. Nordea Investment Management AB now owns 1,419,824 shares of the bank’s stock worth $181,794,000 after acquiring an additional 437,670 shares in the last quarter. Millennium Management LLC acquired a new position in Signature Bank during the fourth quarter worth $48,178,000. Finally, Parnassus Investments CA raised its stake in Signature Bank by 22.9% during the fourth quarter. Parnassus Investments CA now owns 1,610,000 shares of the bank’s stock worth $220,989,000 after acquiring an additional 300,000 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.
Signature Bank (SBNY) traded down $0.27 on Wednesday, hitting $157.22. The stock had a trading volume of 269,238 shares, compared to its average volume of 380,683. Signature Bank has a 12 month low of $116.68 and a 12 month high of $161.92. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $8,658.64, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11.
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About Signature Bank
Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.
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