Icon Advisers Inc. Co. reduced its position in shares of Signature Bank (NASDAQ:SBNY) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,171 shares of the bank’s stock after selling 700 shares during the period. Signature Bank comprises about 1.4% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 16th largest holding. Icon Advisers Inc. Co. owned 0.22% of Signature Bank worth $14,521,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Bbva Compass Bancshares Inc. lifted its position in shares of Signature Bank by 3.5% in the first quarter. Bbva Compass Bancshares Inc. now owns 2,644 shares of the bank’s stock valued at $339,000 after buying an additional 89 shares during the last quarter. Eagle Boston Investment Management Inc. lifted its position in shares of Signature Bank by 1.2% in the first quarter. Eagle Boston Investment Management Inc. now owns 7,684 shares of the bank’s stock valued at $984,000 after buying an additional 91 shares during the last quarter. ETF Managers Group LLC lifted its position in shares of Signature Bank by 11.1% in the first quarter. ETF Managers Group LLC now owns 1,015 shares of the bank’s stock valued at $130,000 after buying an additional 101 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Signature Bank by 1.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,190 shares of the bank’s stock valued at $1,231,000 after buying an additional 110 shares during the last quarter. Finally, Cerebellum GP LLC lifted its position in shares of Signature Bank by 5.7% in the first quarter. Cerebellum GP LLC now owns 2,477 shares of the bank’s stock valued at $317,000 after buying an additional 133 shares during the last quarter. 92.27% of the stock is owned by institutional investors.
SBNY traded up $2.15 during trading on Friday, reaching $118.01. The stock had a trading volume of 27,034 shares, compared to its average volume of 423,988. The stock has a market cap of $6.40 billion, a PE ratio of 10.46, a PEG ratio of 1.03 and a beta of 1.35. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.99 and a current ratio of 1.00. Signature Bank has a one year low of $98.54 and a one year high of $137.93. The business has a 50-day moving average of $123.36 and a 200-day moving average of $126.29.
Signature Bank (NASDAQ:SBNY) last released its earnings results on Thursday, July 18th. The bank reported $2.72 EPS for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.01. Signature Bank had a return on equity of 13.61% and a net margin of 32.59%. The business had revenue of $334.88 million for the quarter, compared to analysts’ expectations of $333.25 million. During the same quarter in the prior year, the firm earned $2.83 earnings per share. Equities research analysts forecast that Signature Bank will post 10.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a dividend of $1.12 per share. The ex-dividend date was Wednesday, July 31st. This represents a $4.48 annualized dividend and a yield of 3.80%. Signature Bank’s payout ratio is 19.86%.
A number of brokerages have recently weighed in on SBNY. Morgan Stanley lowered their target price on Signature Bank from $146.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. FIG Partners lowered Signature Bank from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 18th. BMO Capital Markets lowered their target price on Signature Bank from $132.00 to $128.00 and set a “market perform” rating on the stock in a research note on Thursday, May 30th. Wedbush lowered Signature Bank from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $140.00 to $130.00 in a research note on Wednesday, May 15th. Finally, ValuEngine lowered Signature Bank from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Signature Bank has an average rating of “Buy” and an average price target of $145.67.
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.
Read More: Candlestick
Want to see what other hedge funds are holding SBNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Signature Bank (NASDAQ:SBNY).
Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.