U.S. markets closed
  • S&P 500

    4,228.48
    -55.26 (-1.29%)
     
  • Dow 30

    33,706.74
    -292.30 (-0.86%)
     
  • Nasdaq

    12,705.21
    -260.13 (-2.01%)
     
  • Russell 2000

    1,957.35
    -43.38 (-2.17%)
     
  • Crude Oil

    89.91
    -0.59 (-0.65%)
     
  • Gold

    1,760.30
    -10.90 (-0.62%)
     
  • Silver

    18.97
    -0.50 (-2.56%)
     
  • EUR/USD

    1.0044
    -0.0048 (-0.47%)
     
  • 10-Yr Bond

    2.9890
    +0.1090 (+3.78%)
     
  • GBP/USD

    1.1823
    -0.0109 (-0.92%)
     
  • USD/JPY

    136.9300
    +1.0680 (+0.79%)
     
  • BTC-USD

    20,883.17
    -2,297.74 (-9.91%)
     
  • CMC Crypto 200

    504.88
    -36.72 (-6.78%)
     
  • FTSE 100

    7,550.37
    +8.52 (+0.11%)
     
  • Nikkei 225

    28,930.33
    -11.81 (-0.04%)
     

Is Signature Bank (SBNY) Outperforming Other Finance Stocks This Year?

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has Signature Bank (SBNY) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.

Signature Bank is one of 899 individual stocks in the Finance sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Signature Bank is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for SBNY's full-year earnings has moved 13.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that SBNY has returned about 4.3% since the start of the calendar year. Meanwhile, the Finance sector has returned an average of 1.3% on a year-to-date basis. This means that Signature Bank is performing better than its sector in terms of year-to-date returns.

One other Finance stock that has outperformed the sector so far this year is Ameris Bancorp (ABCB). The stock is up 2.2% year-to-date.

In Ameris Bancorp's case, the consensus EPS estimate for the current year increased 8.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Signature Bank belongs to the Banks - Northeast industry, which includes 90 individual stocks and currently sits at #30 in the Zacks Industry Rank. On average, this group has gained an average of 4.3% so far this year, meaning that SBNY is slightly underperforming its industry in terms of year-to-date returns.

Ameris Bancorp, however, belongs to the Banks - Southeast industry. Currently, this 66-stock industry is ranked #36. The industry has moved +4.9% so far this year.

Investors with an interest in Finance stocks should continue to track Signature Bank and Ameris Bancorp. These stocks will be looking to continue their solid performance.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Signature Bank (SBNY) : Free Stock Analysis Report
 
Ameris Bancorp (ABCB) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research