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Signature Bank: 1Q Earnings Snapshot

NEW YORK (AP) _ Signature Bank (SBNY) on Wednesday reported first-quarter earnings of $144.1 million.

The bank, based in New York, said it had earnings of $2.65 per share. Earnings, adjusted for non-recurring gains, were $2.64 per share.

The results fell short of Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $2.76 per share.

The commercial bank posted revenue of $471.7 million in the period. Its revenue net of interest expense was $325.1 million, which also missed Street forecasts. Sixteen analysts surveyed by Zacks expected $332.3 million.

Signature Bank shares have climbed 32 percent since the beginning of the year. The stock has decreased slightly more than 3 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBNY at https://www.zacks.com/ap/SBNY