Macquarie Group Ltd. lowered its holdings in Signature Bank (NASDAQ:SBNY) by 96.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,300 shares of the bank’s stock after selling 189,872 shares during the quarter. Macquarie Group Ltd.’s holdings in Signature Bank were worth $807,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in SBNY. Aperio Group LLC increased its holdings in shares of Signature Bank by 9.0% in the 2nd quarter. Aperio Group LLC now owns 8,143 shares of the bank’s stock valued at $1,169,000 after acquiring an additional 669 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Signature Bank by 83.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 59,458 shares of the bank’s stock valued at $8,535,000 after acquiring an additional 27,114 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Signature Bank by 1.5% in the 2nd quarter. IFP Advisors Inc now owns 3,128 shares of the bank’s stock valued at $449,000 after acquiring an additional 45 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Signature Bank by 21.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the bank’s stock valued at $962,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Signature Bank by 6.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 176,965 shares of the bank’s stock worth $25,400,000 after buying an additional 10,693 shares during the last quarter. Institutional investors and hedge funds own 96.33% of the company’s stock.
Shares of Signature Bank (NASDAQ SBNY) opened at $136.39 on Tuesday. Signature Bank has a 1 year low of $116.68 and a 1 year high of $164.23. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a market capitalization of $7,385.17, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.76 and a beta of 1.02.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.10. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. The company had revenue of $316.94 million during the quarter, compared to analysts’ expectations of $322.22 million. During the same period last year, the firm earned $2.11 EPS. equities analysts predict that Signature Bank will post 7.25 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on the company. TheStreet upgraded Signature Bank from a “c+” rating to a “b” rating in a research note on Wednesday, November 29th. Jefferies Group restated a “buy” rating and set a $155.00 price target on shares of Signature Bank in a research note on Tuesday, October 24th. Morgan Stanley downgraded Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 price target on the stock. in a research note on Monday, November 6th. JMP Securities assumed coverage on Signature Bank in a research note on Monday, November 20th. They set an “outperform” rating and a $160.00 price target on the stock. Finally, ValuEngine downgraded Signature Bank from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $155.13.
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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