GSA Capital Partners LLP acquired a new position in shares of Signature Bank (NASDAQ:SBNY) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,886 shares of the bank’s stock, valued at approximately $410,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Schroder Investment Management Group purchased a new position in shares of Signature Bank during the 1st quarter worth approximately $150,000. Robeco Institutional Asset Management B.V. purchased a new stake in Signature Bank in the 1st quarter worth approximately $261,000. Glenmede Trust Co. NA grew its stake in Signature Bank by 101.9% in the 4th quarter. Glenmede Trust Co. NA now owns 2,110 shares of the bank’s stock worth $289,000 after acquiring an additional 1,065 shares during the period. BB&T Investment Services Inc. grew its stake in Signature Bank by 27.6% in the 4th quarter. BB&T Investment Services Inc. now owns 2,145 shares of the bank’s stock worth $292,000 after acquiring an additional 464 shares during the period. Finally, Koch Industries Inc. purchased a new stake in Signature Bank in the 4th quarter worth approximately $300,000. 95.66% of the stock is owned by institutional investors and hedge funds.
Shares of Signature Bank opened at $132.75 on Monday, according to Marketbeat. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.09 and a beta of 1.12. Signature Bank has a fifty-two week low of $116.68 and a fifty-two week high of $161.92. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.14.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Thursday, April 19th. The bank reported $2.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.67 by $0.02. The company had revenue of $325.35 million for the quarter, compared to analyst estimates of $328.88 million. Signature Bank had a net margin of 18.57% and a return on equity of 13.29%. During the same quarter last year, the business earned $2.48 EPS. sell-side analysts forecast that Signature Bank will post 11.3 earnings per share for the current fiscal year.
Several analysts have commented on the stock. ValuEngine raised shares of Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 20th. BidaskClub raised shares of Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 20th. Piper Jaffray Companies raised shares of Signature Bank from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $161.92 to $116.68 in a research note on Wednesday, June 13th. BMO Capital Markets lowered their target price on shares of Signature Bank from $192.00 to $171.00 and set an “outperform” rating for the company in a research note on Friday, April 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $161.00 target price on shares of Signature Bank in a research note on Friday, April 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $156.25.
About Signature Bank
Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.
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