Signature Bank (NASDAQ:SBNY) announced its earnings results on Thursday. The bank reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.10, MarketWatch Earnings reports. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. The company had revenue of $316.94 million during the quarter, compared to analyst estimates of $322.22 million. During the same period in the previous year, the business earned $2.11 earnings per share.
Shares of Signature Bank (NASDAQ SBNY) opened at 134.13 on Friday. The stock has a market cap of $7.26 billion, a PE ratio of 21.49 and a beta of 0.96. Signature Bank has a one year low of $115.95 and a one year high of $164.23. The company has a 50-day moving average of $124.72 and a 200 day moving average of $135.35.
Several analysts have issued reports on the stock. Barclays PLC set a $140.00 price target on shares of Signature Bank and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets raised shares of Signature Bank from a “market perform” rating to an “outperform” rating in a research note on Friday. Piper Jaffray Companies reissued a “neutral” rating and issued a $140.00 price target on shares of Signature Bank in a research note on Friday, October 13th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $142.00 price target on shares of Signature Bank in a research note on Tuesday, October 3rd. Finally, FIG Partners reissued an “outperform” rating and issued a $150.00 price target on shares of Signature Bank in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Signature Bank currently has an average rating of “Buy” and a consensus price target of $154.13.
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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