State of Wisconsin Investment Board grew its holdings in shares of Signature Bank (NASDAQ:SBNY) by 238.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,604 shares of the bank’s stock after purchasing an additional 70,149 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.18% of Signature Bank worth $12,753,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in SBNY. Tudor Investment Corp ET AL grew its stake in shares of Signature Bank by 0.6% during the 1st quarter. Tudor Investment Corp ET AL now owns 2,418 shares of the bank’s stock worth $359,000 after acquiring an additional 14 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in shares of Signature Bank by 1.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock worth $202,000 after acquiring an additional 21 shares during the period. Cadence Capital Management LLC grew its stake in shares of Signature Bank by 1.1% during the 2nd quarter. Cadence Capital Management LLC now owns 2,118 shares of the bank’s stock worth $304,000 after acquiring an additional 23 shares during the period. Boston Private Wealth LLC grew its stake in shares of Signature Bank by 0.3% during the 2nd quarter. Boston Private Wealth LLC now owns 7,568 shares of the bank’s stock worth $1,086,000 after acquiring an additional 25 shares during the period. Finally, YorkBridge Wealth Partners LLC grew its stake in shares of Signature Bank by 6.3% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after acquiring an additional 41 shares during the period. 97.93% of the stock is owned by hedge funds and other institutional investors.
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Several research analysts have commented on the company. Bank of America Corporation restated a “buy” rating and issued a $165.00 target price (down previously from $175.00) on shares of Signature Bank in a research note on Wednesday, September 20th. Jefferies Group LLC restated a “buy” rating and issued a $145.00 target price (down previously from $169.00) on shares of Signature Bank in a research note on Thursday, September 7th. Deutsche Bank AG cut their target price on Signature Bank from $178.00 to $162.00 and set a “buy” rating for the company in a research note on Thursday, July 20th. Maxim Group restated a “buy” rating and issued a $175.00 target price on shares of Signature Bank in a research note on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $142.00 target price on shares of Signature Bank in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $154.80.
Shares of Signature Bank (NASDAQ:SBNY) opened at $131.02 on Wednesday. The stock has a market capitalization of $6,827.94, a PE ratio of 14.52, a PEG ratio of 1.63 and a beta of 1.01. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71. Signature Bank has a 12-month low of $116.68 and a 12-month high of $164.23.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $2.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.10. The firm had revenue of $316.94 million during the quarter, compared to the consensus estimate 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 posted $2.11 EPS. sell-side analysts forecast that Signature Bank will post 7.25 earnings per share for the current year.
Signature Bank 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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