Guggenheim Capital LLC reduced its holdings in shares of Signature Bank (NASDAQ:SBNY) by 6.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,696 shares of the bank’s stock after selling 3,643 shares during the quarter. Guggenheim Capital LLC owned approximately 0.10% of Signature Bank worth $7,764,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of SBNY. Bank of New York Mellon Corp lifted its holdings in Signature Bank by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 692,753 shares of the bank’s stock worth $95,087,000 after acquiring an additional 7,338 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in Signature Bank by 5.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 174,903 shares of the bank’s stock worth $24,007,000 after acquiring an additional 9,152 shares during the period. Mackenzie Financial Corp lifted its holdings in Signature Bank by 2.4% during the fourth quarter. Mackenzie Financial Corp now owns 537,530 shares of the bank’s stock worth $73,781,000 after acquiring an additional 12,814 shares during the period. Amalgamated Bank lifted its holdings in Signature Bank by 5.5% during the fourth quarter. Amalgamated Bank now owns 11,175 shares of the bank’s stock worth $1,534,000 after acquiring an additional 580 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in Signature Bank by 59.8% during the fourth quarter. Allianz Asset Management GmbH now owns 242,732 shares of the bank’s stock worth $33,318,000 after acquiring an additional 90,882 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.
A number of analysts recently commented on SBNY shares. BidaskClub lowered Signature Bank from a “hold” rating to a “sell” rating in a report on Saturday, April 7th. BMO Capital Markets dropped their price target on Signature Bank from $192.00 to $171.00 and set an “outperform” rating on the stock in a report on Friday, April 20th. Wells Fargo & Co upgraded Signature Bank from a “market perform” rating to an “outperform” rating in a report on Friday, April 20th. ValuEngine lowered Signature Bank from a “sell” rating to a “strong sell” rating in a report on Monday, June 11th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $161.00 price target on shares of Signature Bank in a report on Friday, April 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Signature Bank currently has a consensus rating of “Buy” and an average price target of $156.25.
Shares of SBNY opened at $127.88 on Friday. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.05 and a beta of 1.12. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.95 and a current ratio of 0.96. Signature Bank has a 1 year low of $116.68 and a 1 year high of $161.92.
Signature Bank (NASDAQ:SBNY) last issued its earnings results on Thursday, April 19th. The bank reported $2.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.67 by $0.02. The firm had revenue of $325.35 million for the quarter, compared to analyst estimates of $328.88 million. Signature Bank had a return on equity of 13.29% and a net margin of 18.57%. During the same period in the previous year, the company posted $2.48 earnings per share. research analysts anticipate that Signature Bank will post 11.3 earnings per share for the current fiscal year.
Signature Bank Company Profile
Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.
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