Calton & Associates Inc. acquired a new position in shares of Signature Bank (NASDAQ:SBNY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,425 shares of the bank’s stock, valued at approximately $222,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp boosted its position in Signature Bank by 0.4% during the 2nd quarter. State Street Corp now owns 2,624,668 shares of the bank’s stock worth $376,718,000 after acquiring an additional 9,285 shares during the period. Harding Loevner LP raised its stake in shares of Signature Bank by 138.0% during the 3rd quarter. Harding Loevner LP now owns 1,802,550 shares of the bank’s stock worth $94,865,000 after purchasing an additional 1,045,206 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Signature Bank by 44.6% during the 3rd quarter. Nordea Investment Management AB now owns 1,419,824 shares of the bank’s stock worth $181,794,000 after purchasing an additional 437,670 shares in the last quarter. Parnassus Investments CA purchased a new stake in shares of Signature Bank during the 3rd quarter worth about $167,732,000. Finally, CI Global Investments Inc. raised its stake in shares of Signature Bank by 176.8% during the 4th quarter. CI Global Investments Inc. now owns 920,249 shares of the bank’s stock worth $126,313,000 after purchasing an additional 587,749 shares in the last quarter. Hedge funds and other institutional investors own 94.36% of the company’s stock.
Shares of Signature Bank (NASDAQ:SBNY) traded up $0.29 during mid-day trading on Friday, hitting $154.79. The company had a trading volume of 326,382 shares, compared to its average volume of 363,177. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.95. Signature Bank has a 1-year low of $116.68 and a 1-year high of $163.98. The company has a market cap of $8,510.20, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10.
A number of research firms have recently weighed in on SBNY. BMO Capital Markets raised their price target on Signature Bank to $192.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Maxim Group raised their price target on Signature Bank from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Stephens reaffirmed a “buy” rating on shares of Signature Bank in a research note on Friday, January 19th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $150.00 price target (up from $137.00) on shares of Signature Bank in a research note on Tuesday, January 9th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $149.00 price target on shares of Signature Bank in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $158.56.
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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.
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