Analysis of Signature Bank’s Q3’22 Earnings
Quick Take
- Signature Bank announced earnings on October 18, 2022
- Closed today’s trading +2.8% in 1-day intra-day trading at $157.29 per share
- Reported $358mm Net Income, a +48% / +117mm increase on Q3’21 Net Income of $241mm
- Reported $492mm Pre-tax Pre-provision Earnings, a +49% / +$161mm increase on Q3’21 of $331mm
- Reported Q3’22 $5.57 EPS compared to Q3’21 $3.88 EPS
- Added ~1,000 new clients across the business in Q3’22
- Digital asset banking unit experienced a ($3.0bn) outflow in deposits
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Author: Greg Lim
