Meadow Creek Investment Management LLC increased its stake in shares of Signature Bank (NASDAQ:SBNY) by 25.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,160 shares of the bank’s stock after purchasing an additional 1,666 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Signature Bank were worth $1,120,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harding Loevner LP boosted its position in shares of Signature Bank by 138.0% during the 3rd quarter. Harding Loevner LP now owns 1,802,550 shares of the bank’s stock worth $94,865,000 after acquiring an additional 1,045,206 shares in the last quarter. Parnassus Investments CA boosted its position 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 in the last quarter. Nordea Investment Management AB boosted its position in shares of Signature Bank by 44.6% during the 3rd quarter. Nordea Investment Management AB now owns 1,419,824 shares of the bank’s stock worth $181,794,000 after acquiring an additional 437,670 shares in the last quarter. CI Global Investments Inc. boosted its position in shares of Signature Bank by 176.8% during the 4th quarter. CI Global Investments Inc. now owns 920,249 shares of the bank’s stock worth $126,313,000 after acquiring an additional 587,749 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in shares of Signature Bank by 0.6% during the 4th quarter. Wedge Capital Management L L P NC now owns 796,843 shares of the bank’s stock worth $109,375,000 after acquiring an additional 5,049 shares in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.
Shares of SBNY stock opened at $153.02 on Wednesday. The stock has a market capitalization of $8,495.91, a PE ratio of 21.43, a P/E/G ratio of 1.29 and a beta of 1.11. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.96 and a quick ratio of 0.95. Signature Bank has a 1 year low of $116.68 and a 1 year high of $161.92.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, beating the Thomson Reuters’ 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 period in the prior year, the business earned $2.11 EPS. research analysts anticipate that Signature Bank will post 11.13 earnings per share for the current year.
SBNY has been the subject of several analyst reports. TheStreet raised Signature Bank from a “c+” rating to a “b” rating in a research report on Wednesday, November 29th. BMO Capital Markets reaffirmed a “buy” rating and set a $163.00 price objective on shares of Signature Bank in a research report on Wednesday, December 20th. Stephens reaffirmed a “buy” rating on shares of Signature Bank in a research report on Friday, January 19th. Piper Jaffray Companies reissued a “hold” rating and issued a $149.00 target price on shares of Signature Bank in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $181.00 target price on shares of Signature Bank in a research report on Tuesday, February 27th. 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. Signature Bank has an average rating of “Buy” and a consensus price target of $161.00.
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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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