Endeavour Capital Advisors Inc. lowered its stake in Signature Bank (NASDAQ:SBNY) by 47.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,907 shares of the bank’s stock after selling 77,244 shares during the quarter. Signature Bank makes up approximately 4.8% of Endeavour Capital Advisors Inc.’s investment portfolio, making the stock its 8th largest position. Endeavour Capital Advisors Inc. owned 0.16% of Signature Bank worth $11,792,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement Association of Colorado grew its position in Signature Bank by 3.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 10,512 shares of the bank’s stock valued at $1,443,000 after purchasing an additional 344 shares during the period. AMP Capital Investors Ltd raised its stake in Signature Bank by 2.8% in the 4th quarter. AMP Capital Investors Ltd now owns 15,842 shares of the bank’s stock valued at $2,175,000 after acquiring an additional 429 shares during the period. Public Employees Retirement System of Ohio raised its stake in Signature Bank by 0.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,819 shares of the bank’s stock valued at $8,427,000 after acquiring an additional 478 shares during the period. Guggenheim Capital LLC raised its stake in Signature Bank by 1.0% in the 4th quarter. Guggenheim Capital LLC now owns 58,339 shares of the bank’s stock valued at $8,007,000 after acquiring an additional 558 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Signature Bank by 3.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 17,895 shares of the bank’s stock valued at $2,291,000 after acquiring an additional 559 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.
A number of research analysts have weighed in on the company. BMO Capital Markets boosted their target price on Signature Bank to $192.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Maxim Group boosted their price objective on Signature Bank from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, January 19th. Stephens restated a “buy” rating on shares of Signature Bank in a report on Friday, January 19th. Keefe, Bruyette & Woods restated a “buy” rating and set a $181.00 target price on shares of Signature Bank in a report on Tuesday, February 27th. Finally, Wells Fargo reaffirmed an “outperform” rating and issued a $150.00 price target (up from $137.00) on shares of Signature Bank in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $161.00.
Shares of Signature Bank stock traded down $2.41 during trading on Monday, hitting $153.21. The stock had a trading volume of 225,058 shares, compared to its average volume of 394,672. The stock has a market cap of $8,555.83, a PE ratio of 21.80, a price-to-earnings-growth ratio of 1.30 and a beta of 1.11. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10. Signature Bank has a 12-month low of $116.68 and a 12-month high of $161.92.
Signature Bank (NASDAQ:SBNY) last announced its earnings results on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.20. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. The firm had revenue of $328.27 million during the quarter, compared to analysts’ expectations of $321.86 million. During the same quarter in the previous year, the business earned $2.11 EPS. equities analysts expect that Signature Bank will post 11.13 EPS 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.
Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.