Signature Bank [NASDAQ:SBNY] will report earnings after markets close on Thursday, January 21st.
SBNY Earnings Forecast For The Current Quarter
Signature Bank [SBNY] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $419.43M and an earnings per share of $2.89 for Dec 2020. Looking further ahead, the company is expected to report revenue of $432.8M at an EPS of $2.9 for Mar 2021. The estimates represent upside of 11.20% and 21.65% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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SBNY Earnings Estimates For The Current Year
For the financial year, Signature Bank [NASDAQ:SBNY] is expected to bring in revenue of $1.59B. The returns are nearly $250.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 9.59, lower than that of FY19 by -$1.28. Estimates put this year’s earnings growth at -11.80%, 21.70% for the next, and at an annual 6.32% over the next 5-year period. As for sales, forecasts are for an increase of 19.10% in the current fiscal year and a further 11.20% over the following year.
SBNY Price Performance
On Wall Street, Signature Bank [NASDAQ:SBNY] finished Tuesday’s session up 0.64% at $155.32. The stock went up to $156.70 at the same session while its lowest single day price was $152.57. In the last five days, it saw a rise of about 6.91%, Signature Bank shares gained by almost 14.81% since the beginning of the year. However, the share price has dropped to as low as -3.24% below its one year high. On 01/14/21, the company shares recorded $160.52, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $132.05. The company’s shares have inclined by 11.60% in the past year. The 50-day SMA achieved is $124.59 while the 200-day SMA is $103.70.
Signature Bank [SBNY] Valuation Measures
Notably, Signature Bank [SBNY] stock cannot be classified as a good candidate in the listing of underestimated low-priced Banks – Regional companies to purchase soonest possible with the prevailing 12-month PE ratio of 16.39. The measure means the stock is exchanging at a premium as compared to the 12.10x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 4.48 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.51 which means SBNY serve an unattractive investment opportunity compared to its competitors.
SBNY Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 155.32 level, and in case of violation of this particular level, it will cause more drop to 153.03 level. On the upper level, 161.29 is still the key resistance. The stock may increase to the subsequent resistance at 158.99. The Relative Strength Index (RSI) pinned on the 14-day chart is 74.01, implying a overbought technical stance while the MACD stands at 11.68, meaning price will increase in the next trading period. Percent R indicator moved to 18.28%, implying bullish price movement. Stochastic %K at 79.40% suggest holding the stock.
Is Signature Bank [NASDAQ:SBNY] a Good Buy Right Now?
It should be noted that SBNY technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 72% Buy in the past month. Data from Signature Bank’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.5 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.72 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.64 million shares.
What is the short interest in Signature Bank?
Short interest in the Signature Bank stock has surged, increasing by 1.02 million shares to total 1.35 million shares on Dec 30, 2020. The interest had seen shares on Nov 29, 2020 stand at 2.37 million, data from Yahoo Finance shows. The decrease of -75.56% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 2.57% of the overall float for the stock.
Signature Bank’s Biggest Shareholders: Who Owns Signature Bank [SBNY]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 4,457,682 shares or roughly 8.09% of the outstanding SBNY shares. This means their shares have reduced by -270,037 from the 4,457,682 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, BlackRock Fund Advisors updated stake is worth $551,193,783. Details in the latest 13F filings reveal that T. Rowe Price Associates, Inc. disposed off their -18.55% stake valued at $541,578,317 while Fidelity Management & Research Co added theirs at $486,043,936. During the last quarter, T. Rowe Price Associates, Inc. liquidated -911,444 of its shares in Signature Bank while Fidelity Management & Research Co bought 148,984 shares. The Alecta Pension Insurance Mutual’s holdings currently number 2,580,000 shares at $400725600.0. According to the firm’s last 13F report, SSgA Funds Management, Inc. shares in the company at filing stood at 2,163,010 shares, roughly $292,633,623.
What are analyst thoughts on Signature Bank?
Looking forward to the Signature Bank share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Signature Bank stock at $160.00 within the next 12 months, which represents almost 2.93 per cent growth from its previous closing price of $155.32. The highest analysts’ target for Signature Bank stock projections is $200.00 and the lowest one is $106.00. Still, 21 analysts sharing their consensus rating for SBNY stock in 2021 agree that it is a Buy.