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Signature Bank: 4Q Earnings Snapshot

January 21, 2020 GMT

NEW YORK (AP) _ Signature Bank (SBNY) on Tuesday reported fourth-quarter net income of $148.2 million.

The bank, based in New York, said it had earnings of $2.78 per share.

The results exceeded Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $2.69 per share.

The commercial bank posted revenue of $488.7 million in the period. Its revenue net of interest expense was $345.6 million, which also beat Street forecasts. Fifteen analysts surveyed by Zacks expected $335.9 million.

For the year, the company reported profit of $588.9 million, or $10.87 per share. Revenue was reported as $1.34 billion.

Signature Bank shares have increased roughly 2% since the beginning of the year. The stock has climbed 12% 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