Earnings from Signature Bank [SBNY] are scheduled on April 21, 2021, before the market opens. It is expected that the company will report strong earnings for the quarter ending Mar 2021.
SBNY Stock Earnings Outlook For The Current Quarter
The consensus estimates for the quarter suggest that the company would earn $2.85 per share on revenue of $430.65M. Taking a look at the future, the company is projected to report revenue of $455.64M at an earnings per share of $2.95 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 12.50% in revenue and 15.25% in earnings per share for the company.
SBNY Stock Earnings Forecast For The Current Year
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For the full financial year, Signature Bank [NASDAQ:SBNY] is forecasted to generate revenue of $1.84B. The figure is about $310.0 million above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $12.24 in 2021, which is $2.28 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 22.90% this year, 15.20% next year, and 6.32% annually over the next five years. With regard to sales, forecasts suggest an incline of 20.20% in current fiscal year and 12.50% over following year.
SBNY Stock Price Performance
At the close of Tuesday’s session, Signature Bank [NASDAQ:SBNY] finished down -3.78% at $219.23. The stock’s highest single-day price was $227.41, and its lowest was $216.00. Its price fall -4.45% in the last five days. Since the beginning of the year, Signature Bank’s shares are up nearly 62.04%. However, the share price is -12.29% below its one year high. The top price reached by the shares of the company was $249.94 on 03/18/21, while the 52-week low came on 01/04/21, when the shares were $132.05. In the past year, shares of the company have risen 145.99%. At 50 days, the moving average achieved is $223.48 while at 200 days, the moving average is $139.10.
Signature Bank [NASDAQ:SBNY] Stock Valuation Metrics
With a prevailing 12-month PE ratio of 22.02, Signature Bank [SBNY] does not qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a premium to the industry average of 13.30 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 6.20 PS value ratio is reported for the last one year of reported earnings. This is above the average return 2.74 for the industry, which means SBNY offers an unattractive investment opportunity than its competitors do.
SBNY Share Price Support And Resistance Levels
Based on the daily chart, the immediate backing lies around the 219.23 level, and the violation of this level will cause a further drop to 214.35 level. At the upper end, 237.17 remains a key resistance. As the stock increases, it may find resistance at 232.29. In the 14-day chart, the Relative Strength Index standing at 44.67 suggests a technical neutral stance while the MACD standing at -2.04 indicates price will decrease in the next trading period. Stochastic %K at 49.42% suggests holding the stock while Percent R indicator at 83.46% suggests bearish price movement.
How much is the short interest in Signature Bank?
There have been a drop in short interest in the Signature Bank Financial stock, with short interest down by 100000.0 shares to 1.86 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 1.76 million shares. This 5.38% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 3.12% of the overall float in the stock, while the stock’s days to cover moved to 2.12.
How do analysts view Signature Bank?
In regard to the share price forecast for Signature Bank stock, the analysts, as surveyed by FactSet, forecast the price to reach $270.00 in the next twelve months, representing almost an 18.8% growth from its recent price of $219.23. Among Signature Bank stock projections, $315.00 is the highest analyst target for the stock, while $165.00 is the lowest. Despite this, 21 analysts who share their consensus rating for SBNY in 2021 agree that the stock is a Buy. The latest rating change took place on 3/18/21, when Morgan Stanley Ratings launched coverage of the stock at “Overweight” and assigned a price target of $280.0.