Advisors Asset Management Inc. decreased its position in shares of Signature Bank (NASDAQ:SBNY) by 8.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,391 shares of the bank’s stock after selling 423 shares during the period. Advisors Asset Management Inc.’s holdings in Signature Bank were worth $562,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its stake in Signature Bank by 2.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the bank’s stock worth $1,854,000 after acquiring an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Signature Bank by 5.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,396 shares of the bank’s stock valued at $1,202,000 after purchasing an additional 516 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Signature Bank by 2.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 21,451 shares of the bank’s stock valued at $2,743,000 after purchasing an additional 604 shares in the last quarter. Nomura Holdings Inc. raised its position in Signature Bank by 16.7% in the 2nd quarter. Nomura Holdings Inc. now owns 4,460 shares of the bank’s stock valued at $570,000 after purchasing an additional 639 shares in the last quarter. Finally, Amalgamated Bank raised its position in Signature Bank by 6.2% in the 2nd quarter. Amalgamated Bank now owns 12,301 shares of the bank’s stock valued at $1,573,000 after purchasing an additional 720 shares in the last quarter. 96.17% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on SBNY shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $150.00 price target on shares of Signature Bank in a research report on Friday, July 20th. JPMorgan Chase & Co. lowered Signature Bank from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $150.00 to $130.00 in a research report on Friday, July 20th. BMO Capital Markets lowered Signature Bank from an “outperform” rating to a “market perform” rating and set a $171.00 price target on the stock. in a research report on Friday, July 20th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $145.00 price target on shares of Signature Bank in a research report on Friday, July 20th. Finally, Wedbush reduced their price target on Signature Bank from $144.00 to $131.00 and set a “neutral” rating on the stock in a research report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $143.21.
SBNY opened at $114.54 on Wednesday. Signature Bank has a one year low of $105.43 and a one year high of $161.92. The stock has a market capitalization of $6.10 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.93 and a beta of 0.91. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.05.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Thursday, October 18th. The bank reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.01. Signature Bank had a return on equity of 14.34% and a net margin of 27.66%. The business had revenue of $329.34 million for the quarter, compared to the consensus estimate of $331.77 million. During the same quarter in the prior year, the business posted $2.29 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, research analysts expect that Signature Bank will post 11.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be paid a dividend of $0.56 per share. The ex-dividend date is Wednesday, October 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.96%. Signature Bank’s dividend payout ratio is presently 25.14%.
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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.
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