5. Signature Bank
Shares of Signature Bank (SBNY) of New York closed at $71.55 Wednesday, returning 19% year-to-date, following a 7% decline last year.
The shares trade for 2.1 times tangible book value, according to Thomson Reuters Bank Insight, and for 16.6 times the consensus 2013 earnings estimate of $4.30 a share, among analysts polled by Thomson Reuters. The consensus 2014 EPS estimate is $4.72.
Signature Bank had total assets of $16.5 billion as of Sept. 30. The bank reported very strong loan growth of 9% in the third quarter, to $8.8 billion as of Sept. 30, with loans growing by 28% from a year earlier.
Earnings have been consistent, with operating returns on average assets ranging from 1.13% to 1.23% over the past five quarters, according to Thomson Reuters Bank Insight. The company earned $47.7 million, or a dollar a share, during the third quarter, increasing from $45.3 million, or 96 cents a share, in the second quarter, and $38.4 million, or 83 cents a share, in the third quarter of 2011.The bank's net interest margin widened to 3.56%, from 3.54% the previous quarter, and 3.51% a year earlier, however, the bank said in its third-quarter earnings release that excluding loan prepayment income, the margin "decreased 3 Basis Points to 3.41 Percent, compared with 3.44 Percent for the 2012 second quarter." Clark's price target for Signature Bank is $82, and the analyst expects the company to maintain its organic growth strategy with a 2013 EPS estimate of $4.40, increasing to $4.90 in 2014. SBNY data by YCharts
Interested in more on Signature Bank? See TheStreet Ratings' report card for this stock.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts