Public Employees Retirement Association of Colorado lowered its stake in Signature Bank (NASDAQ:SBNY) by 7.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,168 shares of the bank’s stock after selling 816 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Signature Bank were worth $1,302,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Pacad Investment Ltd. acquired a new stake in shares of Signature Bank in the second quarter worth about $100,000. YorkBridge Wealth Partners LLC increased its stake in shares of Signature Bank by 6.3% in the second quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after purchasing an additional 41 shares during the period. Commonwealth Bank of Australia increased its stake in shares of Signature Bank by 5.1% in the second quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock worth $176,000 after purchasing an additional 60 shares during the period. Rockefeller Financial Services Inc. bought a new position in shares of Signature Bank in the third quarter worth about $192,000. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of Signature Bank by 1.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock worth $202,000 after purchasing an additional 21 shares during the period. 96.25% of the stock is owned by institutional investors.
A number of research firms have recently commented on SBNY. Piper Jaffray Companies reiterated a “neutral” rating and issued a $140.00 price objective on shares of Signature Bank in a research note on Friday, October 13th. Morgan Stanley lowered Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 price objective on the stock. in a research note on Monday, November 6th. FIG Partners reiterated an “outperform” rating and issued a $150.00 price objective on shares of Signature Bank in a research note on Monday, October 2nd. BMO Capital Markets upgraded Signature Bank from a “market perform” rating to an “outperform” rating in a research note on Friday, October 20th. Finally, Wedbush lowered Signature Bank from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $157.00 to $126.00 in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $154.80.
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Shares of Signature Bank (NASDAQ:SBNY) opened at $124.93 on Friday. Signature Bank has a 12 month low of $116.68 and a 12 month high of $164.23. The firm has a market capitalization of $6,706.62, a P/E ratio of 14.26, a PEG ratio of 1.60 and a beta of 1.01. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.71.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.10. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. The company had revenue of $316.94 million for the quarter, compared to analyst estimates of $322.22 million. During the same period in the prior year, the company posted $2.11 EPS. sell-side analysts predict that Signature Bank will post 7.25 earnings per share for the current year.
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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