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Signature Bank: 1Q Earnings Snapshot

April 23, 2020 GMT

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.

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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

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