Shares of Signature Bank (SBNY) of New York closed at $64.21 Friday, returning 7% year to date, following a remarkable 20% return during 2011.
The shares trade for 2.1 times tangible book value and for 15 times the consensus 2013 earnings estimate of $4.22 a share. The consensus 2012 EPS estimate is $3.67.
Signature Bank will report its first-quarter earnings on Tuesday before the market opens, with a consensus EPS estimate of 84 cents a share, compared to EPS of 85 cents in the fourth quarter and 82 cents a year earlier.Ramsey rated Signature Bank outperform with a $75 price target, and in early April said that the bank's "new equipment/ transportation financing subsidiary
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