Why Shares of Signature Bank Are Falling Today
Shares of Signature Bank (NASDAQ: SBNY) traded roughly 8.5% lower as of 11:37 a.m. ET today after the company reported earnings results for the second quarter of the year.
For the quarter, Signature reported record diluted earnings per share of $5.26 on total revenue of nearly $687 million -- both numbers that came in above or matched analyst estimates.
Signature Bank has morphed into a niche bank in recent years with the creation of its Signet real-time payments platform, which helps better facilitate crypto trading between institutional investors and large crypto exchanges.
Source Fool.com
