BTIM Corp. increased its position in shares of Signature Bank (NASDAQ:SBNY) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 75,543 shares of the bank’s stock after buying an additional 2,299 shares during the period. BTIM Corp.’s holdings in Signature Bank were worth $10,843,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Hermes Investment Management Ltd. raised its stake in shares of Signature Bank by 23.0% in the first quarter. Hermes Investment Management Ltd. now owns 248,468 shares of the bank’s stock worth $36,870,000 after buying an additional 46,434 shares during the period. Quantitative Systematic Strategies LLC raised its stake in shares of Signature Bank by 9.6% in the first quarter. Quantitative Systematic Strategies LLC now owns 4,428 shares of the bank’s stock worth $656,000 after buying an additional 387 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Signature Bank by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 13,600 shares of the bank’s stock worth $2,018,000 after buying an additional 300 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Signature Bank during the first quarter worth $386,000. Finally, Atria Investments LLC raised its stake in shares of Signature Bank by 0.3% in the first quarter. Atria Investments LLC now owns 2,623 shares of the bank’s stock worth $389,000 after buying an additional 8 shares during the period. 96.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Signature Bank (SBNY) traded down 1.58% on Friday, hitting $131.95. 598,803 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $142.54 and its 200 day moving average price is $147.52. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 16.74 and a beta of 0.96. Signature Bank has a 12-month low of $113.53 and a 12-month high of $164.23.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.22 by $0.01. The business had revenue of $316.79 million for the quarter, compared to analysts’ expectations of $324.44 million. Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. During the same period in the previous year, the business posted $1.90 earnings per share. On average, equities analysts predict that Signature Bank will post $9.33 earnings per share for the current fiscal year.
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A number of equities research analysts have recently weighed in on the stock. BidaskClub raised shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Keefe, Bruyette & Woods set a $164.00 price objective on shares of Signature Bank and gave the company a “buy” rating in a report on Monday, April 3rd. ValuEngine lowered shares of Signature Bank from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Morgan Stanley boosted their price objective on shares of Signature Bank from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, June 6th. Finally, BMO Capital Markets reissued a “hold” rating and set a $165.00 price objective on shares of Signature Bank in a report on Friday, May 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $167.85.
Signature Bank Company Profile
Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.
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