KBC Group NV lifted its position in Signature Bank (NASDAQ:SBNY) by 40.3% during the second quarter, Holdings Channel reports. The institutional investor owned 9,741 shares of the bank’s stock after buying an additional 2,800 shares during the quarter. KBC Group NV’s holdings in Signature Bank were worth $1,245,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Endurance Wealth Management Inc. acquired a new position in shares of Signature Bank in the 2nd quarter valued at $128,000. Schroder Investment Management Group acquired a new position in shares of Signature Bank in the 1st quarter valued at $150,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Signature Bank in the 1st quarter valued at $261,000. Quadrature Capital Ltd acquired a new position in shares of Signature Bank in the 1st quarter valued at $292,000. Finally, Seven Eight Capital LP acquired a new position in shares of Signature Bank in the 1st quarter valued at $355,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on SBNY shares. BidaskClub cut shares of Signature Bank from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 8th. Wedbush decreased their target price on shares of Signature Bank from $144.00 to $131.00 and set a “neutral” rating for the company in a research note on Friday, July 20th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $150.00 target price on shares of Signature Bank in a research note on Friday, July 20th. Morgan Stanley decreased their target price on shares of Signature Bank from $155.00 to $145.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 24th. Finally, Barclays decreased their target price on shares of Signature Bank from $156.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, July 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $152.40.
NASDAQ:SBNY opened at $119.74 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 1.22. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 0.98 and a beta of 1.02. Signature Bank has a fifty-two week low of $108.89 and a fifty-two week high of $161.92.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Thursday, July 19th. The bank reported $2.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.03. Signature Bank had a net margin of 26.76% and a return on equity of 13.84%. The company had revenue of $326.63 million during the quarter, compared to analysts’ expectations of $334.00 million. During the same period in the prior year, the business posted $2.21 earnings per share. equities research analysts predict that Signature Bank will post 11.18 EPS for the current year.
The firm also recently announced an annual dividend, which was paid on Wednesday, August 15th. Stockholders of record on Wednesday, August 1st were issued a dividend of $0.56 per share. This represents a dividend yield of 0.47%. The ex-dividend date of this dividend was Tuesday, July 31st. Signature Bank’s payout ratio is 25.14%.
Signature Bank 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.
Further Reading: Understanding Average Daily Trade Volume
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