Neuburgh Advisers LLC cut its holdings in Signature Bank (NASDAQ:SBNY) by 6.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,360 shares of the bank’s stock after selling 368 shares during the period. Neuburgh Advisers LLC’s holdings in Signature Bank were worth $648,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in SBNY. Bbva USA Bancshares Inc. boosted its holdings in shares of Signature Bank by 4.8% in the 2nd quarter. Bbva USA Bancshares Inc. now owns 2,770 shares of the bank’s stock valued at $334,000 after buying an additional 126 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Signature Bank by 5.3% in the 2nd quarter. IFM Investors Pty Ltd now owns 2,964 shares of the bank’s stock valued at $358,000 after purchasing an additional 148 shares during the last quarter. Provident Investment Management Inc. lifted its holdings in shares of Signature Bank by 2.7% in the 2nd quarter. Provident Investment Management Inc. now owns 211,421 shares of the bank’s stock valued at $25,548,000 after purchasing an additional 5,603 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Signature Bank by 11.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 44,970 shares of the bank’s stock valued at $5,434,000 after purchasing an additional 4,783 shares during the period. Finally, Cerebellum GP LLC boosted its position in shares of Signature Bank by 5.7% in the 1st quarter. Cerebellum GP LLC now owns 2,477 shares of the bank’s stock valued at $317,000 after purchasing an additional 133 shares during the period. 92.97% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on SBNY. Morgan Stanley decreased their price objective on Signature Bank from $146.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, August 5th. JPMorgan Chase & Co. set a $138.00 price target on shares of Signature Bank and gave the company a “buy” rating in a research report on Friday, September 6th. BidaskClub cut shares of Signature Bank from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. BMO Capital Markets dropped their price objective on shares of Signature Bank from $132.00 to $128.00 and set a “market perform” rating on the stock in a research note on Thursday, May 30th. Finally, Raymond James raised shares of Signature Bank from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $142.00 to $143.00 in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $144.33.
Shares of SBNY stock traded down $1.33 during mid-day trading on Wednesday, hitting $119.95. The stock had a trading volume of 13,009 shares, compared to its average volume of 355,220. The firm has a market cap of $6.58 billion, a PE ratio of 10.63, a PEG ratio of 1.03 and a beta of 1.37. The company’s 50-day simple moving average is $119.69 and its 200-day simple moving average is $124.40. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.00 and a quick ratio of 0.99. Signature Bank has a fifty-two week low of $98.54 and a fifty-two week high of $137.93.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.01. The business had revenue of $334.88 million for the quarter, compared to analyst estimates of $333.25 million. Signature Bank had a net margin of 32.59% and a return on equity of 13.61%. During the same period in the previous year, the business posted $2.83 earnings per share. On average, analysts expect that Signature Bank will post 10.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.73%. The ex-dividend date was Wednesday, July 31st. Signature Bank’s payout ratio is 19.86%.
Signature Bank Company Profile
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.
Featured Article: Return on Investment (ROI)
Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.