Finance

Analysis of Signature Bank’s Q3’22 Earnings

10/20/2022
Bitcoin Ethereum News

October 19, 2022, 10:27AM EDT

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• 3 min read

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
  • Recently announced partnership with Coinbase Commerce to provide real-time settlement via Signature’s Signet platform 

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Source: https://www.theblockresearch.com/analysis-of-signature-banks-q322-earnings-178210?utm_source=rss&utm_medium=rss