Victory Capital Management Inc. Grows Position in Signature Bank (SBNY)

Victory Capital Management Inc. lifted its position in Signature Bank (NASDAQ:SBNY) by 547.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,226 shares of the bank’s stock after acquiring an additional 72,909 shares during the period. Victory Capital Management Inc.’s holdings in Signature Bank were worth $11,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Signature Bank in the 3rd quarter valued at $115,000. Zions Bancorporation acquired a new position in shares of Signature Bank in the 3rd quarter valued at $152,000. Rockefeller Financial Services Inc. acquired a new position in shares of Signature Bank in the 3rd quarter valued at $192,000. WINTON GROUP Ltd acquired a new position in shares of Signature Bank in the 3rd quarter valued at $210,000. Finally, IFG Advisory LLC acquired a new position in shares of Signature Bank in the 4th quarter valued at $216,000. 94.36% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on the company. Barclays upped their target price on Signature Bank from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Wells Fargo & Co reissued an “outperform” rating and issued a $150.00 target price (up from $137.00) on shares of Signature Bank in a research report on Tuesday, January 9th. JMP Securities assumed coverage on Signature Bank in a research report on Monday, November 20th. They issued an “outperform” rating and a $160.00 target price on the stock. Morgan Stanley downgraded Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 target price on the stock. in a research report on Monday, November 6th. Finally, Jefferies Group reissued a “buy” rating and issued a $155.00 target price on shares of Signature Bank in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $158.56.

Shares of Signature Bank (NASDAQ:SBNY) opened at $153.00 on Thursday. The firm has a market capitalization of $8,410.00, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.95 and a current ratio of 0.97. Signature Bank has a 12-month low of $116.68 and a 12-month high of $163.98.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.20. The company had revenue of $328.27 million for the quarter, compared to the consensus estimate of $321.86 million. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. During the same period last year, the firm earned $2.11 EPS. equities analysts anticipate that Signature Bank will post 11.13 earnings per share for the current fiscal year.

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

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