Eagle Boston Investment Management Inc. lifted its stake in shares of Signature Bank (NASDAQ:SBNY) by 23.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,211 shares of the bank’s stock after buying an additional 1,180 shares during the period. Eagle Boston Investment Management Inc.’s holdings in Signature Bank were worth $852,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Pinebridge Investments L.P. increased its holdings in shares of Signature Bank by 229.9% during the fourth quarter. Pinebridge Investments L.P. now owns 95,815 shares of the bank’s stock worth $13,151,000 after buying an additional 66,767 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Signature Bank by 46.8% during the fourth quarter. State of Wisconsin Investment Board now owns 146,203 shares of the bank’s stock worth $20,068,000 after buying an additional 46,599 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Signature Bank by 10.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 89,317 shares of the bank’s stock worth $12,260,000 after buying an additional 8,195 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Signature Bank by 2.5% during the fourth quarter. First Trust Advisors LP now owns 146,643 shares of the bank’s stock worth $20,128,000 after buying an additional 3,590 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Signature Bank by 33.9% during the fourth quarter. Sei Investments Co. now owns 106,254 shares of the bank’s stock worth $14,585,000 after buying an additional 26,920 shares in the last quarter. Institutional investors own 94.36% of the company’s stock.
Shares of Signature Bank (NASDAQ:SBNY) opened at $154.79 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10. The company has a market cap of $8,494.26, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. Signature Bank has a 1 year low of $116.68 and a 1 year high of $163.98.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.20. The business had revenue of $328.27 million for the quarter, compared to analysts’ expectations of $321.86 million. Signature Bank had a net margin of 25.71% and a return on equity of 12.72%. During the same quarter in the prior year, the firm posted $2.11 earnings per share. equities research analysts expect that Signature Bank will post 11.13 EPS for the current fiscal year.
Several research analysts have recently issued reports on SBNY shares. BMO Capital Markets reiterated a “buy” rating and set a $163.00 price target on shares of Signature Bank in a report on Wednesday, December 20th. TheStreet upgraded shares of Signature Bank from a “c+” rating to a “b” rating in a report on Wednesday, November 29th. Jefferies Group restated a “buy” rating and issued a $155.00 price objective on shares of Signature Bank in a report on Tuesday, October 24th. Wells Fargo & Co restated an “outperform” rating and issued a $150.00 price objective (up from $137.00) on shares of Signature Bank in a report on Tuesday, January 9th. Finally, Barclays increased their price objective on Signature Bank from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Signature Bank presently has an average rating of “Buy” and an average target price of $158.56.
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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