Signature Bank: 1Q Earnings Snapshot
NEW YORK (AP) _ Signature Bank (SBNY) on Thursday reported first-quarter earnings of $99.6 million.
The bank, based in New York, said it had earnings of $1.88 per share.
The results fell short of Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.
The commercial bank posted revenue of $494 million in the period. Its revenue net of interest expense was $362.4 million, which topped Street forecasts. Fifteen analysts surveyed by Zacks expected $344 million.
Signature Bank shares have fallen 37% since the beginning of the year. The stock has fallen 32% in the last 12 months.