The shares of Signature Bank (NASDAQ:SBNY) currently has mean rating of 1.89 while 6 analysts have recommended the shares as “BUY”, 8 recommended as “OUTPERFORM” and 4 recommended as “HOLD”. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell.
The company’s mean estimate for sales for the current quarter ending Jun-16 is 295.40 million by 14 analysts. The means estimate of sales for the year ending Dec-16 is 1.21 billion by 16 analysts.
The mean price target for the shares of Signature Bank (NASDAQ:SBNY) is at 161.41 while the highest price target suggested by the analysts is 175.00 and low price target is 146.00. The mean price target is calculated keeping in view the consensus of 17 brokerage firms.
The average estimate of EPS for the current fiscal quarter for Signature Bank (NASDAQ:SBNY) stands at 1.97 while the EPS for the current year is fixed at 8.20 by 18 analysts.
The next one year’s EPS estimate is set at 9.46 by 18 analysts while a year ago the analysts suggested the company’s EPS at 8.20. The analysts also projected the company’s long-term growth at 13.35% for the upcoming five years.
In its latest quarter ended on 31st March 2016, Signature Bank (NASDAQ:SBNY) reported earnings of $1.95. The posted earnings topped the analyst’s consensus by $0.02 with the surprise factor of 1.00%. In the matter of earnings surprises, the term “Cockroach Effect” is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
On May 11, 2016 Signature Bank (SBNY) announced the appointment of two private client banking teams, one to be based from the Bank’s office at 485 Madison Avenue in New York City; the other in Greenwich, Conn.
Jason Birnbaum was named Group Director and Senior Vice President, Meredith Epstein was appointed to the role of Associate Group Director and Vice President and Vincent Pensato will serve as Senior Client Associate. This team, which will call the Bank’s Madison Avenue office home, joins from First Republic Bank, where all three members worked together for several years.
Birnbaum brings nearly 20 years of financial services experience to his new role; 10 of which were spent at First Republic Bank. Most recently, he served as Senior Managing Director – Private Banking and Lending, specializing in catering to clients engaged in the private equity and hedge fund arenas as well as those in real estate. Previously, he was a Vice President at JPMorgan Chase in New York City.
Epstein spent six years at First Republic as a Senior Preferred Banker, where she primarily handled business development and client research and analyses.
Pensato was most recently an Associate – Relationship Management, where he handled account management, overseeing client relationships as well as mortgage underwriting and sales.
Additionally, a five-member team joins Signature Bank’s Greenwich private client banking office from Citibank, N.A.’s commercial banking group. The team is led by newly appointed Group Director and Senior Vice President Jonathan DeMarco.
Armand Frusciante, Andrea Lawson and Eduardo Missura were each named Group Director and Senior Vice President, and the team will be supported by Louisa Morrone, who will serve as Senior Client Associate.
DeMarco spent nearly 13 years at Citibank, most recently serving as Middle Market Director and Senior Vice President, during which time he managed a team of several relationship managers. Earlier, he spent approximately five years as the Northeast Region Director of Business and Middle Market Banking, overseeing Hudson Valley and Connecticut.
Frusciante, with 16 years of banking expertise, spent the past five years as Senior Vice President and Relationship Manager in commercial banking, during which time he was responsible for business development throughout Connecticut.