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Signature Bank: 3Q Earnings Snapshot

Associated Press
Updated

NEW YORK (AP) _ Signature Bank (SBNY) on Thursday reported third-quarter profit of $148.7 million.

The New York-based bank said it had earnings of $2.75 per share.

The results surpassed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $2.70 per share.

The commercial bank posted revenue of $490 million in the period. Its revenue net of interest expense was $334 million, which fell short of Street forecasts. Fifteen analysts surveyed by Zacks expected $339.1 million.

Signature Bank shares have increased 15% since the beginning of the year. The stock has risen 6% 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