In today’s recent session, 0.78 million shares of the Signature Bank (NASDAQ:SBNY) have been traded, and its beta is 2.01. Most recently the company’s share price was $238.41, and it changed around $2.91 or 1.24% from the last close, which brings the market valuation of the company to $14.36B. SBNY at last check was trading at a discount to its 52-week high of $263.99, offering almost -10.73% off that amount. The share price’s 52-week low was $71.44, which indicates that the recent value has risen by an impressive 70.03% since then. We note from Signature Bank’s average daily trading volume that its 3-month average coming to 503.42K.
Signature Bank stock received a consensus recommendation rating of a Buy, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 19 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended SBNY as a Hold, whereas 18 deemed it a Buy, and 0 rated it as Underweight. Signature Bank is expected to report earnings per share of $3.14 for the current quarter.
Signature Bank (NASDAQ:SBNY) trade information
Instantly SBNY has been showing a green trend so far today with a performance of 1.24% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 252.97 on Tuesday, 07/20/21 increased the stock’s daily price by 5.76%. The company’s shares are currently up 74.07% year-to-date, but still down -7.05% over the last five days. On the other hand, Signature Bank (NASDAQ:SBNY) is 0.43% down in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $308.78, which translates to bulls needing to increase their stock price by 22.79% from its current value. Analyst projections state that SBNY is forecast to be at a low of $252.00 and a high of $375.00. In order for the stock price to hit the forecast high, the stock would need to plunge -57.29% from its current level, while the stock would need to crash -5.7% from its current level to reach the projected low.
Signature Bank (SBNY) estimates and forecasts
Signature Bank share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 51.62 percent over the past six months and at a 34.54% annual growth rate that is well above the industry average of 26.50%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 42.10% in revenue this quarter, and will report an increase of 32.10% in the next quarter. The year-over-year growth rate is expected to be 25.40%, up from the previous year.
Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $466.52 million in revenue for the current quarter. 13 analysts expect Signature Bank to make $497.99 million in revenue for the quarter ending Sep 2021. The company’s sales for the same quarters a year ago were $389.14 million and $412.93 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 19.90%. Forecasts for the next quarter put sales growth at 20.60%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 6.50%. Signature Bank earnings are expected to increase by -8.00% in 2021, but the outlook is positive 6.32% per year for the next five years.
Signature Bank’s next quarterly earnings report is expected to be released around October 18 and October 22. The annual dividend yield of the stock is 0.95 percent and its annual dividend per share was 2.24. It is important to note, however, that the 0.95% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Signature Bank (NASDAQ:SBNY)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.15% of Signature Bank shares, and 95.86% of them are in the hands of institutional investors. The stock currently has a share float of 96.01%. Signature Bank stock is held by 573 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2021, it held 17.52% of the shares, which is about 5.16 million shares worth $1.17 billion.
Vanguard Group, Inc. (The), with 16.87% or 4.97 million shares worth $1.12 billion as of Mar 30, 2021, holds the second largest percentage of outstanding shares.
iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of May 30, 2021. The former held 1.56 million shares worth $388.94 million, making up 5.29% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.53 million shares worth around $345.39 million, which represents about 5.19% of the total shares outstanding.