Signature Bank (NASDAQ: SBNY) is expected to release its quarterly results before the market opens on Tuesday, July 20. Analysts expect the company to report earnings of $ 3.11 per share for the quarter.
Signature Bank (NASDAQ: SBNY) last released its quarterly results on Tuesday, April 20. The bank reported EPS of $ 3.24 for the quarter, beating the Zacks’ consensus estimate of $ 2.85 by $ 0.39. The company posted revenue of $ 439.21 million in the quarter, against analysts’ expectations of $ 431.00 million. Signature Bank had a net margin of 30.40% and a return on equity of 11.10%. In the same quarter of the previous year, the company earned $ 1.88 per share. On average, analysts expect Signature Bank to post EPS of $ 13 for the current fiscal year and $ 16 for the next fiscal year.
Actions of NASDAQ SBNY traded down $ 13.06 at midday on Friday, reaching $ 235.88. 40,451 shares of the company were traded, for an average volume of 389,309. Signature Bank has a 52-week low of $ 71.44 and a 52-week high of $ 263.99. The stock has a 50-day moving average of $ 246.74. The stock has a market cap of $ 12.63 billion, a PE ratio of 20.82, a PEG ratio of 1.97 and a beta of 1.99. The company has a quick ratio of 0.94, a current ratio of 0.95, and a debt ratio of 0.54.
The company also recently declared a quarterly dividend, which was paid on Friday, May 14. Shareholders of record on Monday, May 3 received a dividend of $ 0.56 per share. The ex-dividend date of this dividend was Friday April 30. This represents a dividend of $ 2.24 on an annualized basis and a return of 0.95%. Signature Bank’s payout ratio is 22.49%.
A number of research companies have recently published reports on SBNY. Credit Suisse Group raised its price target on Signature Bank from $ 270.00 to $ 280.00 and gave the stock an “outperformance” rating in a report released on Friday, July 9. JPMorgan Chase & Co. raised its price target on Signature Bank shares from $ 350.00 to $ 375.00 and rated the company as “overweight” in a research report released on Friday, June 11. Raymond James raised his target price on Signature Bank shares from $ 290.00 to $ 300.00 and gave the stock a “strong buy” rating in a report released Thursday, April 22. Morgan Stanley raised its price target on Signature Bank shares from $ 315.00 to $ 330.00 and assigned the company an “overweight” rating in a research note on Thursday, June 17. Finally, Maxim Group raised its price target for Signature Bank shares from $ 275.00 to $ 300.00 and assigned the stock a “buy” rating in a research report on Thursday, April 22. One investment analyst assigned a conservation rating to the stock, fifteen assigned a buy rating and another assigned a high buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $ 266.44.
About Signature Bank
Signature Bank Commercial Banking Products and Services. It accepts a variety of deposit products including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, paid and unpaid checking accounts, certificates of deposit, term deposits and other cash management products.
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