Signature Bank Expected to Post Q4 2016 Earnings of $2.12 Per Share (SBNY)

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Signature Bank (NASDAQ:SBNY) – Jefferies Group cut their Q4 2016 earnings per share (EPS) estimates for shares of Signature Bank in a report issued on Thursday. Jefferies Group analyst C. Haire now expects that the brokerage will post earnings of $2.12 per share for the quarter, down from their previous estimate of $2.13. Jefferies Group has a “Buy” rating and a $149.00 price target on the stock. Jefferies Group also issued estimates for Signature Bank’s FY2017 earnings at $9.30 EPS.
A number of other research analysts also recently issued reports on SBNY. Piper Jaffray Cos. downgraded Signature Bank from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $151.00 to $146.00 in a research note on Tuesday, May 31st. Raymond James Financial Inc. upgraded Signature Bank from an “outperform” rating to a “strong-buy” rating and set a $162.00 price objective for the company in a research note on Tuesday, June 21st. Morgan Stanley restated an “overweight” rating on shares of Signature Bank in a research note on Wednesday, June 29th. JPMorgan Chase & Co. reduced their price objective on Signature Bank from $164.00 to $146.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. Finally, FBR & Co cut their price target on Signature Bank from $167.00 to $155.00 and set an “outperform” rating for the company in a research note on Thursday, July 21st. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $158.53.
Signature Bank (NASDAQ:SBNY) opened at 118.40 on Monday. The firm’s 50-day moving average price is $119.69 and its 200 day moving average price is $130.21. Signature Bank has a 52 week low of $114.36 and a 52 week high of $163.15. The firm has a market cap of $6.36 billion, a P/E ratio of 15.32 and a beta of 1.01.

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Signature Bank (NASDAQ:SBNY) last issued its earnings results on Wednesday, July 20th. The company reported $1.90 EPS for the quarter, missing the Thomson Reuters’ 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 last year, the company posted $1.77 EPS.
Signature Bank Company Profile
Signature Bank (the Bank) is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area, including those in Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island and Connecticut. The Bank offers a range of business and personal banking products and services.

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