Signature Bank (NASDAQ:SBNY) issued its quarterly earnings results on Thursday, October 17th. The bank reported $2.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.05, Briefing.com reports. The company had revenue of $334.00 million for the quarter, compared to the consensus estimate of $339.14 million. Signature Bank had a net margin of 31.37% and a return on equity of 13.09%. During the same period in the previous year, the firm earned $2.84 EPS.
Shares of SBNY traded up $1.20 during midday trading on Friday, hitting $125.90. 311,400 shares of the company traded hands, compared to its average volume of 421,660. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.98 and a quick ratio of 0.98. Signature Bank has a one year low of $98.54 and a one year high of $137.93. The stock has a 50-day moving average of $120.34 and a 200-day moving average of $121.07. The firm has a market cap of $6.83 billion, a P/E ratio of 11.16, a PEG ratio of 1.07 and a beta of 1.35.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, October 31st. Signature Bank’s dividend payout ratio is presently 19.86%.
A number of brokerages recently weighed in on SBNY. Stephens began coverage on shares of Signature Bank in a report on Monday, October 28th. They issued an “overweight” rating on the stock. JPMorgan Chase & Co. set a $138.00 price objective on shares of Signature Bank and gave the company a “buy” rating in a report on Friday, September 6th. BidaskClub raised shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Morgan Stanley dropped their price objective on shares of Signature Bank from $145.00 to $143.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Finally, Wells Fargo & Co dropped their price objective on shares of Signature Bank from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $137.00.
About Signature Bank
Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.
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