Laurion Capital Management LP lifted its position in shares of Signature Bank (NASDAQ:SBNY) by 104.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,525 shares of the bank’s stock after buying an additional 3,846 shares during the period. Laurion Capital Management LP’s holdings in Signature Bank were worth $964,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SBNY. Somerset Trust Co raised its holdings in shares of Signature Bank by 153.6% during the 1st quarter. Somerset Trust Co now owns 213 shares of the bank’s stock valued at $27,000 after buying an additional 129 shares in the last quarter. Pearl River Capital LLC purchased a new position in shares of Signature Bank during the 1st quarter valued at about $44,000. Fort L.P. purchased a new position in shares of Signature Bank during the 4th quarter valued at about $60,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Signature Bank during the 1st quarter valued at about $81,000. Finally, Enlightenment Research LLC purchased a new position in shares of Signature Bank during the 4th quarter valued at about $93,000. 96.35% of the stock is currently owned by institutional investors.
Shares of Signature Bank stock opened at $117.03 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 1.00 and a beta of 1.36. Signature Bank has a one year low of $98.54 and a one year high of $137.93.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $2.65 EPS for the quarter, missing the Zacks’ consensus estimate of $2.76 by ($0.11). The company had revenue of $325.08 million during the quarter, compared to analysts’ expectations of $332.35 million. Signature Bank had a return on equity of 14.15% and a net margin of 34.17%. During the same period last year, the firm earned $2.69 earnings per share. As a group, equities analysts expect that Signature Bank will post 11.06 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a dividend of $0.56 per share. The ex-dividend date was Tuesday, April 30th. This represents a $2.24 annualized dividend and a dividend yield of 1.91%. Signature Bank’s dividend payout ratio (DPR) is presently 19.86%.
A number of equities analysts recently weighed in on the company. BidaskClub raised Signature Bank from a “sell” rating to a “hold” rating in a report on Saturday, April 13th. ValuEngine cut Signature Bank from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. FIG Partners cut Signature Bank from an “outperform” rating to a “market perform” rating in a report on Thursday, April 18th. Raymond James decreased their price target on Signature Bank from $146.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Finally, Wedbush cut Signature Bank from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $140.00 to $130.00 in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $144.00.
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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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