Brokerages expect Signature Bank (NASDAQ:SBNY – Get a rating) to show sales of $675.49 million for the current fiscal quarter, Zacks Investment Research reports. Fifteen analysts have made earnings estimates for Signature Bank. The highest sales estimate is $752.39 million and the lowest is $633.20 million. Signature Bank recorded sales of $480.59 million in the same quarter last year, which would indicate a positive growth rate of 40.6% year-over-year. The company is expected to release its next quarterly earnings report on Monday, January 1.

According to Zacks, analysts expect Signature Bank to report annual sales of $2.82 billion for the current fiscal year, with estimates ranging from $2.59 billion to $3.15 billion. For the next fiscal year, analysts expect the company to report sales of $3.54 billion, with estimates ranging from $3.14 billion to $3.88 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that provide coverage for Signature Bank.

Signature Bank (NASDAQ: SBNY- Get a rating) last released its quarterly results on Tuesday, April 19. The bank reported EPS of $4.63 for the quarter, beating Thomson Reuters consensus estimate of $4.31 by $0.32. Signature Bank had a net margin of 43.29% and a return on equity of 13.97%. During the same period of the previous year, the company achieved EPS of $3.24.

Several research companies have recently weighed in on SBNY. Wedbush cut its price target on Signature Bank shares from $415.00 to $375.00 and set a “buy” rating for the company in a Wednesday, April 20 research report. Goldman Sachs Group raised its price target on Signature Bank shares from $387.00 to $429.00 and gave the stock a “buy” rating in a Wednesday, January 19 research report. StockNews.com began covering Signature Bank shares in a research report on Thursday, March 31. They set a “hold” rating for the company. Janney Montgomery Scott moved Signature Bank shares from a “neutral” rating to a “buy” rating in a Wednesday, Jan. 19 research report. Finally, Compass Point reaffirmed a “buy” rating on Signature Bank shares in a Tuesday, January 18 research report. One investment analyst gave the stock a hold rating, thirteen gave the company a buy rating and one gave the company a high buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $381.08.

SBNY stock opened at $248.63 on Tuesday. Signature Bank has a 52-week low of $223.96 and a 52-week high of $374.76. The company’s 50-day simple moving average is $292.12 and its 200-day simple moving average is $312.68. The company has a debt ratio of 0.37, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market capitalization of $15.08 billion, a PE ratio of 14.55, a growth price-earnings ratio of 1.19 and a beta of 1.77.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 13. Investors of record on Friday, April 29 will receive a dividend of $0.56. The ex-date of this dividend is Thursday, April 28. This represents a dividend of $2.24 on an annualized basis and a yield of 0.90%. Signature Bank’s dividend payout ratio (DPR) is currently 13.11%.

A number of hedge funds and other institutional investors have recently shifted their holdings in SBNY. Capital International Investors bought a new position in Signature Bank in Q4, valued at approximately $599,227,000. State Street Corp increased its position in Signature Bank by 53.1% during the fourth quarter. State Street Corp now owns 3,034,921 shares of the bank valued at $981,706,000 after purchasing an additional 1,052,338 shares during the period. Norges Bank acquired a new stake in Signature Bank during the 4th quarter valued at approximately $185,605,000. Invesco Ltd. increased its position in Signature Bank by 65.5% during the third quarter. Invesco Ltd. now owns 1,120,157 shares of the bank valued at $304,997,000 after purchasing an additional 443,323 shares during the period. Finally, Bank of America Corp DE increased its position in Signature Bank shares by 86.3% during the 4th quarter. Bank of America Corp DE now owns 913,508 shares of the bank worth $295,492,000 after purchasing an additional 423,228 shares during the period. Institutional investors and hedge funds own 96.17% of the company’s shares.

Corporate Profile Signature Bank (Get a 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 offers various loan products including commercial and industrial loans, real estate loans and letters of credit.

Further reading

Get a Free Copy of Zacks’ Research Report on Signature Bank (SBNY)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Signature Bank right now?

Before you consider Signature Bank, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and Signature Bank wasn’t on the list.

Although Signature Bank currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here