Jefferies Boosts Est/PT on Signature Bank (SBNY)
Tweet
Share
E-mailGet Alerts SBNY Hot Sheet
Price: $0.35 +9.38%
Rating Summary:
20 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
20 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Jefferies lifted estimates and its price target on Buy-rated Signature Bank (NASDAQ: SBNY) from $95 to $97 following solid Q4 results.
Analyst Casey Haire comments, "We raise our 2014 estimate $0.25 to $5.10 following another strong beat. Key delta is a stable NIM outlook, which is a meaningful EPS driver for SBNY as its robust balance sheet growth no longer has to fight through NIM compression. SBNY may lag peers in terms of asset sensitivity, but few banks can match its organic EPS growth trajectory without help from rising short rates or M&A, which warrants a premium multiple, in our view."
The firm raised Q3 EPS from $1.14 to $1.19, FY 2013 EPS from $4.45 to $4.59 and FY 2014 EPS from $4.85 to $5.10.
For an analyst ratings summary and ratings history on Signature Bank click here. For more ratings news on Signature Bank click here.
Shares of Signature Bank closed at $91.66 yesterday.
Analyst Casey Haire comments, "We raise our 2014 estimate $0.25 to $5.10 following another strong beat. Key delta is a stable NIM outlook, which is a meaningful EPS driver for SBNY as its robust balance sheet growth no longer has to fight through NIM compression. SBNY may lag peers in terms of asset sensitivity, but few banks can match its organic EPS growth trajectory without help from rising short rates or M&A, which warrants a premium multiple, in our view."
The firm raised Q3 EPS from $1.14 to $1.19, FY 2013 EPS from $4.45 to $4.59 and FY 2014 EPS from $4.85 to $5.10.
For an analyst ratings summary and ratings history on Signature Bank click here. For more ratings news on Signature Bank click here.
Shares of Signature Bank closed at $91.66 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
- Indigo Paints (INDIGOPN:IN) PT Raised to INR1,300 at ICICI Securities
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
