Handelsbanken Fonder AB grew its holdings in shares of Signature Bank (NASDAQ:SBNY) by 26.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 597,613 shares of the bank’s stock after purchasing an additional 125,000 shares during the quarter. Signature Bank makes up 1.8% of Handelsbanken Fonder AB’s investment portfolio, making the stock its 10th largest holding. Handelsbanken Fonder AB owned 1.09% of Signature Bank worth $82,028,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Comerica Bank grew its stake in shares of Signature Bank by 8.7% during the 4th quarter. Comerica Bank now owns 85,887 shares of the bank’s stock worth $13,312,000 after acquiring an additional 6,889 shares during the period. Parnassus Investments CA grew its stake in shares of Signature Bank by 22.9% during the 4th quarter. Parnassus Investments CA now owns 1,610,000 shares of the bank’s stock worth $220,989,000 after acquiring an additional 300,000 shares during the period. Tdam USA Inc. grew its stake in shares of Signature Bank by 200.7% during the 3rd quarter. Tdam USA Inc. now owns 12,815 shares of the bank’s stock worth $1,641,000 after acquiring an additional 8,553 shares during the period. Wells Fargo & Company MN grew its stake in shares of Signature Bank by 11.3% during the 3rd quarter. Wells Fargo & Company MN now owns 186,078 shares of the bank’s stock worth $23,824,000 after acquiring an additional 18,954 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Signature Bank by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 285,641 shares of the bank’s stock worth $36,571,000 after acquiring an additional 3,796 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on SBNY shares. TheStreet upgraded Signature Bank from a “c+” rating to a “b” rating in a research note on Wednesday, November 29th. Maxim Group increased 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 reiterated a “buy” rating on shares of Signature Bank in a research note on Friday, January 19th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $181.00 price target on shares of Signature Bank in a research note on Tuesday, February 27th. Finally, BMO Capital Markets restated a “buy” rating and issued a $163.00 target price on shares of Signature Bank in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $161.00.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.20. The firm had revenue of $328.27 million during the quarter, compared to the consensus estimate of $321.86 million. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. During the same quarter last year, the company posted $2.11 EPS. sell-side analysts forecast that Signature Bank will post 11.13 earnings per share for the current year.
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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