Andra AP fonden grew its stake in shares of Signature Bank (NASDAQ:SBNY) by 65.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,200 shares of the bank’s stock after buying an additional 7,600 shares during the quarter. Andra AP fonden’s holdings in Signature Bank were worth $2,458,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of SBNY. Nordea Investment Management AB raised its position in shares of Signature Bank by 265.2% during the 2nd quarter. Nordea Investment Management AB now owns 982,154 shares of the bank’s stock valued at $140,969,000 after buying an additional 713,190 shares in the last quarter. Koch Industries Inc. raised its position in shares of Signature Bank by 34,799.2% during the 2nd quarter. Koch Industries Inc. now owns 480,562 shares of the bank’s stock valued at $477,000 after buying an additional 479,185 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of Signature Bank by 59.1% during 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 during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Signature Bank during the 2nd quarter valued at $37,330,000. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Signature Bank by 69.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 445,535 shares of the bank’s stock valued at $63,948,000 after purchasing an additional 181,882 shares during the last quarter. Hedge funds and other institutional investors own 96.25% of the company’s stock.
Signature Bank (NASDAQ:SBNY) opened at $124.93 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.71. The stock has a market cap of $6,706.62, a PE ratio of 14.26, a price-to-earnings-growth ratio of 1.60 and a beta of 1.01. Signature Bank has a twelve month low of $116.68 and a twelve month high of $164.23.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.10. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. The firm had revenue of $316.94 million during the quarter, compared to analyst estimates of $322.22 million. During the same period in the previous year, the business posted $2.11 earnings per share. sell-side analysts predict that Signature Bank will post 7.25 EPS for the current fiscal year.
SBNY has been the topic of several recent research reports. Morgan Stanley reduced their target price on shares of Signature Bank from $164.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, September 15th. Jefferies Group LLC reaffirmed a “buy” rating and set a $155.00 target price on shares of Signature Bank in a report on Tuesday, October 24th. Hovde Group raised shares of Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 target price on the stock in a report on Monday, September 11th. TheStreet lowered shares of Signature Bank from a “b” rating to a “c+” rating in a report on Wednesday, July 19th. Finally, Deutsche Bank AG cut their price target on shares of Signature Bank from $178.00 to $162.00 and set a “buy” rating on the stock in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $154.80.
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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.
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