Trade Report: Today: Signature Bank (SBNY) Set to Announce Quarterly Earnings on Tuesday

Today: Signature Bank (SBNY) Set to Announce Quarterly Earnings on Tuesday

Signature Bank (NASDAQ:SBNY) will be announcing its earnings results before the market opens on Tuesday, October 18th. Analysts expect the company to announce earnings of $2.04 per share for the quarter.

Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.97 by $0.07. Signature Bank had a return on equity of 12.89% and a net margin of 32.08%. During the same period in the previous year, the business earned $1.77 earnings per share. On average, analysts expect Signature Bank to post $8.01 EPS for the current fiscal year and $9.15 EPS for the next fiscal year.

Shares of Signature Bank (NASDAQ:SBNY) opened at 117.35 on Monday. The stock has a 50 day moving average price of $118.68 and a 200 day moving average price of $126.75. Signature Bank has a 1-year low of $114.01 and a 1-year high of $163.15. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 15.19 and a beta of 0.91.

SBNY has been the topic of several research reports. Zacks Investment Research lowered shares of Signature Bank from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Barclays PLC raised shares of Signature Bank from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $150.00 to $139.00 in a report on Wednesday, September 28th. Raymond James Financial Inc. raised shares of Signature Bank from an “outperform” rating to a “strong-buy” rating and set a $162.00 price objective on the stock in a report on Tuesday, June 21st. Jefferies Group reaffirmed a “buy” rating and issued a $155.00 price target on shares of Signature Bank in a report on Thursday, July 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Signature Bank in a report on Wednesday, June 29th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $156.75.

A number of hedge funds and other institutional investors have recently bought and sold shares of SBNY. American International Group Inc. increased its position in Signature Bank by 0.6% in the second quarter. American International Group Inc. now owns 103,701 shares of the company’s stock worth $12,954,000 after buying an additional 640 shares in the last quarter. Parsons Capital Management Inc. RI acquired a new position in Signature Bank during the second quarter worth about $250,000. Comerica Bank increased its position in Signature Bank by 3.7% in the second quarter. Comerica Bank now owns 37,689 shares of the company’s stock worth $4,534,000 after buying an additional 1,331 shares in the last quarter. Quadrature Capital Ltd increased its position in Signature Bank by 127.4% in the second quarter. Quadrature Capital Ltd now owns 5,115 shares of the company’s stock worth $639,000 after buying an additional 2,866 shares in the last quarter. Finally, GAM Holding AG increased its position in Signature Bank by 69.9% in the second quarter. GAM Holding AG now owns 2,275 shares of the company’s stock worth $284,000 after buying an additional 936 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

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