Victory Capital Management Inc. Purchases 5,300 Shares of Signature Bank (SBNY)

Victory Capital Management Inc. lifted its holdings in shares of Signature Bank (NASDAQ:SBNY) by 66.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,317 shares of the bank’s stock after purchasing an additional 5,300 shares during the period. Victory Capital Management Inc.’s holdings in Signature Bank were worth $1,705,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SBNY. Dimensional Fund Advisors LP boosted its position in shares of Signature Bank by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 267,027 shares of the bank’s stock valued at $39,626,000 after purchasing an additional 5,077 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Signature Bank by 8.6% during the 2nd quarter. Capstone Asset Management Co. now owns 5,304 shares of the bank’s stock valued at $761,000 after purchasing an additional 420 shares in the last quarter. Creative Planning boosted its position in shares of Signature Bank by 1,750.9% during the 2nd quarter. Creative Planning now owns 2,073 shares of the bank’s stock valued at $298,000 after purchasing an additional 1,961 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Signature Bank by 514.5% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 8,849 shares of the bank’s stock valued at $1,270,000 after purchasing an additional 7,409 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Signature Bank by 4.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,678 shares of the bank’s stock valued at $2,824,000 after purchasing an additional 811 shares in the last quarter. Institutional investors own 96.33% of the company’s stock.

Signature Bank (NASDAQ:SBNY) traded down $1.71 during mid-day trading on Wednesday, hitting $136.16. The stock had a trading volume of 320,529 shares, compared to its average volume of 481,458. Signature Bank has a 52 week low of $116.68 and a 52 week high of $164.23. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $7,435.10, a price-to-earnings ratio of 15.81, a PEG ratio of 1.78 and a beta of 1.02.

Signature Bank (NASDAQ:SBNY) last posted its earnings results on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.10. The company had revenue of $316.94 million for the quarter, compared to analyst estimates of $322.22 million. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. During the same quarter last year, the company earned $2.11 earnings per share. research analysts expect that Signature Bank will post 7.25 EPS for the current year.

Several equities research analysts recently commented on SBNY shares. BidaskClub lowered Signature Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. ValuEngine lowered Signature Bank from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group reiterated a “buy” rating and issued a $145.00 price target (down previously from $169.00) on shares of Signature Bank in a report on Thursday, September 7th. Hovde Group upgraded Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 price target on the stock in a report on Monday, September 11th. Finally, Morgan Stanley cut their price target on Signature Bank from $164.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $155.13.

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About Signature Bank

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.

Institutional Ownership by Quarter for Signature Bank (NASDAQ:SBNY)

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