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SBNY

Signature Bank

$118.68

-0.1 (-0.08%)

05:41
10/17/19
10/17
05:41
10/17/19
05:41

Signature Bank reports Q3 EPS $2.75, consensus $2.70

Reports Q3 book value per share $87.42. Reports Q3 CET1 capital ratio 11.91%. Reports Q3 net charge-offs 0.03%. "In order to thrive, one must consistently think about transforming. The key element to success is when to act upon said transformation. Well, we've begun the process and energized our colleagues and we're pleased with the initial outcome. The results we are seeing include reduced borrowings, an increase in floating rate commercial and industrial loans led by the Fund Banking Division, a decrease in fixed rate commercial real estate loan concentration and funding with record average deposit growth," explained Joseph DePaolo, President and CEO. "We've added three transformational groups to our institution in the past year and also introduced an innovative new commercial payments platform (Signet). The Fund Banking Division made significant contributions to our results this quarter, as did our Venture Banking Group, which just officially opened for business. We look forward to the continued efforts of these teams as well as those of our new Specialized Mortgage Servicing Banking Team, which has now built out the necessary infrastructure to support their clients' needs. As always, our traditional banking teams also fueled our ongoing growth. We continue to adapt and transform to benefit the success of our clients," DePaolo concluded.

  • 17

    Oct

  • 29

    Oct

SBNY Signature Bank
$118.68

-0.1 (-0.08%)

07/01/19
MSCO
07/01/19
UPGRADE
Target $146
MSCO
Overweight
Signature Bank upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Ken Zerbe upgraded Signature Bank to Overweight from Equal Weight, citing his view that the bank is well positioned to benefit from falling rates. He also sees above-peer loan growth for Signature as the company intentionally deemphasizes New York City CRE and believes concerns about Signature's exposure to the new NYC rent regulations have been overblown. Zerbe, who also sees the possibility for upside from capital return, raised his price target on the stock to $146 from $142.
07/08/19
RAJA
07/08/19
UPGRADE
RAJA
Strong Buy
Signature Bank upgraded to Strong Buy from Outperform at Raymond James
07/08/19
RAJA
07/08/19
UPGRADE
RAJA
Strong Buy
Signature Bank upgraded to Strong Buy at Raymond James
As previously reported, Raymond James analyst William Wallace upgraded Signature Bank to Strong Buy from Outperform and maintained a $285 price target. Wallace expects the Fed to cut interest rates twice in 2019 and believes Signature Bank is more "shielded" than most banks from a declining interest rate environment. In addition, Signatures recent investments in its Fund Banking segment and Venture Capital Group will produce attractive balance sheet growth, the analyst wrote in a note to investors.
09/06/19
JPMS
09/06/19
NO CHANGE
Target $138
JPMS
Overweight
Signature Bank shares a 'bargain,' JPMorgan says after management meetings
After hosting investor meetings with management, JPMorgan analyst Steven Alexopoulos says he finds shares of Signature Bank "bargain." The company's net interest margin and credit quality likely to hold "relatively stable," which provides a favorable backdrop for its newest three verticals -- funds banking, venture banking and mortgage servicing banking -- to start ramping growth, Alexopoulos tells investors in a research note. He sees the potential growth from these new verticals as being "significantly undervalued" with Signature Bank shares trading in line with peers. The analyst keeps an Overweight rating on the shares with a $138 price target.

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MNTA

Momenta

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XLP

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IWM

iShares Trust Russell 2000 Index Fund

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APTX

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GILT

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EXEL

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