Good Earnings from Signature Bank

Before the bell, Signature Bank (SBNY) reported Q4 earnings of $2.01 per share. That was eight cents better than estimates. For the year, SBNY made $7.27 per share.

Deposits for the 2015 fourth quarter rose $162.6 million, or 0.6 percent, to $26.77 billion at December 31, 2015. Overall deposit growth in 2015 was 18.4 percent, or $4.15 billion, when compared with deposits at the end of 2014.

(…)

“2015 was another record year in which Signature Bank demonstrated its ability to deliver exemplary results. Once again, we set records across all of our key metrics, including deposits, loans and earnings, reporting our eighth consecutive year of record earnings. And, for the first time, the Bank earned more than $100 million in one quarter,” explained Joseph J. DePaolo, President and Chief Executive Officer.

SBNY has been unusually weak lately. The stock was over $163 last November and was recently as low as $131.21 on Friday. It’s back near $140 today.

Posted by on January 21st, 2016 at 1:45 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.