Sterling Capital Management LLC lessened its holdings in Signature Bank (NASDAQ:SBNY) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,200 shares of the bank’s stock after selling 613 shares during the period. Sterling Capital Management LLC owned approximately 0.30% of Signature Bank worth $22,950,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in SBNY. Steward Partners Investment Advisory LLC purchased a new position in shares of Signature Bank in the 3rd quarter worth approximately $115,000. Zions Bancorporation bought a new stake in shares of Signature Bank in the 3rd quarter worth approximately $152,000. WINTON GROUP Ltd bought a new stake in shares of Signature Bank in the 3rd quarter worth approximately $210,000. IFG Advisory LLC bought a new stake in shares of Signature Bank in the 4th quarter worth approximately $216,000. Finally, Calton & Associates Inc. bought a new stake in shares of Signature Bank in the 4th quarter worth approximately $222,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.
A number of research firms recently commented on SBNY. Barclays lifted their price target on shares of Signature Bank from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Wells Fargo reaffirmed an “outperform” rating and issued a $150.00 price target (up previously from $137.00) on shares of Signature Bank in a report on Tuesday, January 9th. BMO Capital Markets lifted their price target on shares of Signature Bank to $192.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Maxim Group lifted their price target on shares of Signature Bank from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $181.00 price target on shares of Signature Bank in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $161.00.
SBNY stock opened at $153.02 on Wednesday. Signature Bank has a 1 year low of $116.68 and a 1 year high of $161.92. The stock has a market cap of $8,495.91, a price-to-earnings 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 (NASDAQ:SBNY) last announced its earnings results on Thursday, January 18th. The bank reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.20. Signature Bank had a net margin of 25.71% and a return on equity of 12.72%. The company had revenue of $328.27 million during the quarter, compared to analyst estimates of $321.86 million. During the same period in the previous year, the business earned $2.11 earnings per share. analysts predict that Signature Bank will post 11.13 EPS for the current fiscal year.
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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