Signature Bank (SBNY) Stock Rating Lowered by FIG Partners

FIG Partners cut shares of Signature Bank (NASDAQ:SBNY) from an outperform rating to a market perform rating in a report released on Thursday, April 18th, Briefing.com Automated Import reports. FIG Partners also issued estimates for Signature Bank’s FY2019 earnings at $11.46 EPS.

SBNY has been the subject of a number of other reports. Wells Fargo & Co increased their price target on Signature Bank from $135.00 to $150.00 and gave the stock an outperform rating in a report on Friday, March 15th. ValuEngine downgraded Signature Bank from a hold rating to a sell rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded Signature Bank from a neutral rating to an overweight rating and increased their price target for the stock from $133.00 to $150.00 in a report on Thursday, April 4th. BidaskClub downgraded Signature Bank from a hold rating to a sell rating in a report on Friday, April 5th. Finally, Raymond James set a $135.00 price target on Signature Bank and gave the stock a buy rating in a report on Friday, January 18th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $141.89.

NASDAQ SBNY opened at $126.93 on Thursday. The firm has a market capitalization of $7.02 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.07 and a beta of 1.36. Signature Bank has a twelve month low of $98.54 and a twelve month high of $137.93. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.99 and a quick ratio of 0.99.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Wednesday, April 17th. The bank reported $2.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.76 by ($0.11). Signature Bank had a return on equity of 14.15% and a net margin of 34.17%. The business had revenue of $325.08 million for the quarter, compared to analyst estimates of $332.35 million. During the same quarter in the previous year, the business posted $2.69 earnings per share. On average, sell-side analysts anticipate that Signature Bank will post 11.06 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.56 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $2.24 annualized dividend and a dividend yield of 1.76%. Signature Bank’s dividend payout ratio is presently 19.86%.

Several institutional investors and hedge funds have recently modified their holdings of the company. MAI Capital Management grew its stake in shares of Signature Bank by 3.4% in the 4th quarter. MAI Capital Management now owns 2,661 shares of the bank’s stock valued at $274,000 after buying an additional 88 shares during the period. Bbva Compass Bancshares Inc. grew its stake in shares of Signature Bank by 3.5% in the 1st quarter. Bbva Compass Bancshares Inc. now owns 2,644 shares of the bank’s stock valued at $339,000 after buying an additional 89 shares during the period. Eagle Boston Investment Management Inc. lifted its position in Signature Bank by 1.2% in the 1st quarter. Eagle Boston Investment Management Inc. now owns 7,684 shares of the bank’s stock valued at $984,000 after acquiring an additional 91 shares in the last quarter. ETF Managers Group LLC lifted its position in Signature Bank by 11.1% in the 1st quarter. ETF Managers Group LLC now owns 1,015 shares of the bank’s stock valued at $130,000 after acquiring an additional 101 shares in the last quarter. Finally, Texas Permanent School Fund lifted its position in Signature Bank by 0.3% in the 4th quarter. Texas Permanent School Fund now owns 34,933 shares of the bank’s stock valued at $3,591,000 after acquiring an additional 104 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Signature Bank Company Profile

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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Analyst Recommendations for Signature Bank (NASDAQ:SBNY)

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