SBNY
Signature BankSignature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The company provides various lending products comprising commercial and industrial loans, real estate loans, and letters of credit. In addition, it offers asset management and investment products; and retirement products, such as
2-Year Price History
Quarterly Financials & Projections
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Est | 2027-Q1 | 0.0 | 0.0 | -- | 0.0 | -- | 0.0 | -0.0 | 24,549 | -- | -- | -- | -- | -- |
| Est | 2026-Q4 | 0.0 | 0.0 | -- | 0.0 | -- | 0.0 | -0.0 | 24,549 | -- | -- | -- | -- | -- |
| Est | 2026-Q3 | 0.0 | 0.0 | -- | 0.0 | -- | 0.0 | -0.0 | 24,549 | -- | -- | -- | -- | -- |
| Est | 2026-Q2 | 0.0 | 0.0 | -- | 0.0 | -- | 0.0 | -0.0 | 24,549 | -- | -- | -- | -- | -- |
| Est | 2026-Q1 | 0.0 | 0.0 | -- | 0.0 | -- | 0.0 | -0.0 | 24,549 | -- | -- | -- | -- | -- |
| Est | 2025-Q4 | 0.0 | 0.0 | -- | 0.0 | -- | 0.0 | -0.0 | 24,549 | -- | -- | -- | -- | -- |
| Est | 2025-Q3 | 0.0 | 0.0 | -- | 0.0 | -- | 0.0 | -0.0 | 24,549 | -- | -- | -- | -- | -- |
| Est | 2025-Q2 | 0.0 | 0.0 | -- | 0.0 | -- | 0.0 | -0.0 | 24,549 | -- | -- | -- | -- | -- |
| Act | 2022-Q4 | 683.9 | 0.0 | 0.0 | 300.9 | 85.7 | 75.1 | -10.6 | 24,549 | 12,287 | 62.7 | 0.0% | 0.0x | -- |
| Act | 2022-Q3 | 1,020 | 469.2 | 463.2 | 358.5 | 621.6 | 607.7 | -13.9 | 29,940 | 2,312 | 62.7 | 32.5% | 1.6x | -- |
| Act | 2022-Q2 | 812.2 | 478.3 | 472.5 | 339.2 | 405.2 | 394.1 | -11.1 | 34,166 | 2,435 | 62.7 | 27.6% | 3.8x | -- |
| Act | 2022-Q1 | 676.6 | 417.5 | 411.9 | 338.5 | -166.9 | -179.6 | -12.7 | 46,017 | 3,281 | 62.1 | 22.8% | 6.1x | -- |
Multiples vs the company's own history — cheap or rich relative to itself? Historical fiscal years, then TTM, then forward projections (E). Forward rows hold today's price against projected earnings, so the multiple compresses if the company grows into it.
| Year | Price | Rev Gr | EBITDA % | EBITDA | EV/EBITDA | EV/FCF | P/E | P/S |
|---|---|---|---|---|---|---|---|---|
| 2022 | 114.58 | — | 42.8% | 1,365 | — | — | 7.3× | 3.1× |
| TTM | 0.50 | 0.0% | 42.8% | 1,365 | — | — | 0.0× | 0.0× |
| 2026E | 0.50 | -100.0% | — | 0 | — | — | — | — |
EBITDA in reporting-currency $M. Historical multiples use year-end market cap (split-adjusted price history); TTM & forward years use today's.
AI Analysis
LLM Evaluations
SBNY is a defunct bank in FDIC receivership with zero ongoing operations. The common equity is almost certainly worthless. The FDIC's receivership priority waterfall places common shareholders last — behind insured depositors, uninsured depositors, the FDIC's subrogated claim (~$2.4B DIF loss), general unsecured creditors, and subordinated debt holders. In virtually every FDIC bank failure in history, common equity holders recover zero. The $75M OTC market cap is entirely speculative retail activity with no fundamental basis. The historical financials shown are pre-failure operating data that is completely irrelevant to the current situation. A DCF framework is inapplicable — this is a binary liquidation outcome with an overwhelming probability of zero recovery for common shareholders. This is a strong sell / avoid at any price above zero.
Valuation & Metrics
Market Stats
TTM Financial Snapshot
DCF Fair Value Estimate
Forward Outlook & Risk
Short Interest
Forward Projections & Estimates
Employees
Institutional Ownership
Headline & net flow
Ownership composition
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| MASON CAPITAL MANAGEMENT LLC | $260K | $2.30 | +$0 | +$0 | -2.4% | $613M |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY | $1K | $149.62 | +$0 | +$0 | -0.6% | $12.89B |
| HUNTINGTON NATIONAL BANK | $0 | $70.74 | +$0 | +$0 | -0.1% | $18.12B |
| NBC SECURITIES, INC. | $0 | $0.65 | +$0 | +$0 | -0.3% | $1.33B |
Trading behavior
▸ Compare to holder-profile behavior (across all their stocks)
Top-5 holders · 100.0%
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
Analyst Coverage
| Quarter | Revenue | EBITDA | Net Inc | EPS | EPS Range | # Analysts |
|---|---|---|---|---|---|---|
| 2023 Q3 | 653M | 467M | 277M | $3.89 | $3.89 – $3.89 | 3 |
| 2023 Q4 | 675M | 496M | 297M | $4.06 | $4.06 – $4.06 | 1 |
| 2024 Q1 | 880M | 394M | 99M | $1.58 | $1.58 – $1.58 | 1 |
| 2024 Q2 | 731M | 327M | 279M | $4.45 | $4.45 – $4.45 | 1 |
| 2024 Q3 | 757M | 339M | 300M | $4.79 | $4.79 – $4.79 | 1 |
| 2024 Q4 | 784M | 351M | 315M | $5.02 | $5.02 – $5.02 | 1 |
| 2025 Q1 | 1.1B | 482M | 284M | $4.53 | $4.53 – $4.53 | 1 |
| 2025 Q2 | 1.1B | 507M | 295M | $4.70 | $4.70 – $4.70 | 1 |
| 2025 Q3 | 1.2B | 533M | 306M | $4.88 | $4.88 – $4.88 | 1 |
| 2025 Q4 | 1.3B | 561M | 317M | $5.06 | $5.06 – $5.06 | 1 |
Corporate
Order Flow (FINRA, ~3w lag)
Counter-Thesis
Counter-Thesis & Recent News
In February 2026, a federal appeals court ruled that the residual Signature Bank entity is not liable for a $33 million crypto Ponzi scheme, significantly reducing potential liquidation liabilities. Additionally, former Signature executives launched N3XT, a Wyoming-based blockchain bank, in December 2025, reviving interest in the team's fintech expertise. Most recently, in March 2026, Morgan Stanley's acquisition of $700 million in property loans previously linked to Signature has boosted confidence in the recovery value of the bank's remaining asset portfolio.
The core bear thesis remains that SBNY is a defunct entity in FDIC receivership, where common equity is historically wiped out to zero. The stock is currently a 'zombie' security trading on the OTC market (OTCPK), and any perceived value is purely speculative, tied to a long-shot liquidation process that must satisfy all senior creditors and the FDIC's Deposit Insurance Fund (estimated at a $2.4B loss) before shareholders see a dime.
Technical indicators as of March 2026 show extreme volatility with a 52-week range of $0.0003 to $1.50. The lack of standardized financial reporting (P/E and Price/Book are N/A) makes intrinsic valuation impossible. Furthermore, institutional ownership is minimal, and the stock's recent 29% price jump is viewed by analysts as a 'dead cat bounce' or speculative retail 'meme' activity rather than a fundamental turnaround.
The bank's most valuable assets and customer relationships were already absorbed by New York Community Bancorp (NYCB) and Flagstar Bank in 2023. Current competitive threats come from new crypto-native banks and fintechs, including the executive-led startup N3XT, which are aggressively capturing Signature's former niche in digital asset 24/7 payment settlements (Signet), leaving the residual SBNY entity with no operational business to defend.
Customer sentiment for the original banking entity is non-existent as operations have ceased. However, speculative sentiment among retail traders has turned 'bullish' on technical grounds, with the RSI hitting an 'oversold' level of 21.28 in February 2026, leading to increased social media followers and trading volume on platforms like MarketBeat and Tickeron as 'liquidation play' interest grows.