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Brokers Offer Predictions for Signature Bank’s Q2 2022 Earnings (NASDAQ:SBNY)

Signature Bank (NASDAQ:SBNYGet Rating) – Jefferies Financial Group reduced their Q2 2022 earnings per share estimates for Signature Bank in a research note issued on Monday, July 11th. Jefferies Financial Group analyst C. Haire now expects that the bank will post earnings of $5.02 per share for the quarter, down from their prior estimate of $5.20. The consensus estimate for Signature Bank’s current full-year earnings is $22.33 per share. Jefferies Financial Group also issued estimates for Signature Bank’s Q4 2022 earnings at $6.15 EPS, FY2022 earnings at $22.55 EPS, Q1 2023 earnings at $5.97 EPS, Q2 2023 earnings at $6.14 EPS, Q3 2023 earnings at $6.50 EPS, Q4 2023 earnings at $6.84 EPS and FY2023 earnings at $25.45 EPS. Signature Bank (NASDAQ:SBNYGet Rating) last announced its quarterly earnings results on Tuesday, April 19th. The bank reported $5.30 earnings per share for the quarter, topping analysts’ consensus estimates of $4.31 by $0.99. Signature Bank had a return on equity of 13.97% and a net margin of 43.29%. The company had revenue of $607.96 million during the quarter, compared to analysts’ expectations of $608.85 million. During the same quarter in the previous year, the firm earned $3.24 earnings per share.

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Several other equities analysts have also recently weighed in on SBNY. Morgan Stanley cut their price objective on Signature Bank from $300.00 to $262.00 and set an “overweight” rating for the company in a research report on Tuesday. Piper Sandler cut their price objective on Signature Bank from $375.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, May 20th. JPMorgan Chase & Co. cut their price target on Signature Bank from $460.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Stephens cut their price target on Signature Bank to $325.00 in a report on Friday, May 27th. Finally, Compass Point cut their price target on Signature Bank from $350.00 to $300.00 and set a “buy” rating for the company in a report on Friday, June 10th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $315.85.

NASDAQ SBNY opened at $188.85 on Thursday. Signature Bank has a twelve month low of $165.36 and a twelve month high of $374.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $11.45 billion, a PE ratio of 11.05, a P/E/G ratio of 0.91 and a beta of 1.80. The stock has a 50-day simple moving average of $196.69 and a 200 day simple moving average of $270.88.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, April 28th. Signature Bank’s dividend payout ratio is 13.11%.

Large investors have recently bought and sold shares of the business. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of Signature Bank in the 1st quarter valued at $29,000. JCSD Capital LLC acquired a new position in shares of Signature Bank in the 1st quarter valued at $29,000. Blume Capital Management Inc. acquired a new position in shares of Signature Bank in the 1st quarter valued at $29,000. Quent Capital LLC lifted its stake in shares of Signature Bank by 152.5% in the 1st quarter. Quent Capital LLC now owns 101 shares of the bank’s stock valued at $30,000 after purchasing an additional 61 shares during the period. Finally, Cambridge Trust Co. lifted its stake in shares of Signature Bank by 1,018.2% in the 1st quarter. Cambridge Trust Co. now owns 123 shares of the bank’s stock valued at $36,000 after purchasing an additional 112 shares during the period. 96.17% of the stock is currently owned by hedge funds and other institutional investors.

About Signature Bank (Get Rating)

Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The company provides various lending products comprising commercial and industrial loans, real estate loans, and letters of credit.

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Earnings History and Estimates for Signature Bank (NASDAQ:SBNY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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