Signature Bank (SBNY) Holdings Maintained by Israel Discount Bank of New York

Israel Discount Bank of New York continued to hold its position in shares of Signature Bank (NASDAQ:SBNY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,000 shares of the bank’s stock at the end of the second quarter. Israel Discount Bank of New York’s holdings in Signature Bank were worth $144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CI Global Investments Inc. lifted its stake in shares of Signature Bank by 13.7% in the 2nd quarter. CI Global Investments Inc. now owns 320,000 shares of the bank’s stock valued at $45,930,000 after purchasing an additional 38,500 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Signature Bank by 19.8% in the 2nd quarter. Alliancebernstein L.P. now owns 717,047 shares of the bank’s stock valued at $102,918,000 after purchasing an additional 118,590 shares in the last quarter. AXA lifted its stake in shares of Signature Bank by 15.1% in the 2nd quarter. AXA now owns 58,429 shares of the bank’s stock valued at $8,386,000 after purchasing an additional 7,662 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Signature Bank by 17.2% in the 2nd quarter. Wells Fargo & Company MN now owns 167,124 shares of the bank’s stock valued at $23,987,000 after purchasing an additional 24,489 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its stake in shares of Signature Bank by 59.1% in the 2nd quarter. TimesSquare Capital Management LLC now owns 983,300 shares of the bank’s stock valued at $141,133,000 after purchasing an additional 365,400 shares in the last quarter. 95.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of Signature Bank (SBNY) traded up 1.31% during midday trading on Friday, hitting $123.71. The company had a trading volume of 451,885 shares. Signature Bank has a one year low of $113.53 and a one year high of $164.23. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 19.82 and a beta of 0.97. The company’s 50 day moving average is $131.51 and its 200 day moving average is $141.71.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by $0.01. The company had revenue of $316.79 million for the quarter, compared to the consensus estimate of $324.44 million. Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. During the same quarter last year, the company posted $1.90 EPS. Equities analysts forecast that Signature Bank will post $7.23 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on SBNY shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $169.00 price objective on shares of Signature Bank in a research note on Wednesday, June 28th. Bank of America Corporation reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Signature Bank in a research note on Thursday, May 25th. Keefe, Bruyette & Woods set a $164.00 price objective on Signature Bank and gave the company a “buy” rating in a research note on Monday, June 5th. Maxim Group reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Signature Bank in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG reduced their price objective on Signature Bank from $178.00 to $162.00 and set a “buy” rating on the stock in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. Signature Bank currently has an average rating of “Buy” and a consensus target price of $166.00.

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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.

Institutional Ownership by Quarter for Signature Bank (NASDAQ:SBNY)

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