Janus Henderson Group PLC lowered its holdings in Signature Bank (NASDAQ:SBNY) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 167,079 shares of the bank’s stock after selling 10,703 shares during the quarter. Janus Henderson Group PLC owned 0.31% of Signature Bank worth $23,981,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in SBNY. Nordea Investment Management AB increased its stake in shares of Signature Bank by 265.2% in the second quarter. Nordea Investment Management AB now owns 982,154 shares of the bank’s stock worth $140,969,000 after acquiring an additional 713,190 shares during the period. TimesSquare Capital Management LLC increased its stake in shares of Signature Bank by 59.1% in the second quarter. TimesSquare Capital Management LLC now owns 983,300 shares of the bank’s stock worth $141,133,000 after acquiring an additional 365,400 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Signature Bank in the second quarter worth $37,330,000. Clearbridge Investments LLC increased its stake in shares of Signature Bank by 42.3% in the first quarter. Clearbridge Investments LLC now owns 834,302 shares of the bank’s stock worth $123,802,000 after acquiring an additional 248,022 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Signature Bank in the second quarter worth $25,310,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.
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SBNY has been the topic of a number of research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $145.00 price objective (down previously from $169.00) on shares of Signature Bank in a research note on Thursday, September 7th. Barclays PLC set a $145.00 price objective on shares of Signature Bank and gave the stock a “buy” rating in a research note on Wednesday, October 11th. BMO Capital Markets upgraded shares of Signature Bank from a “market perform” rating to an “outperform” rating in a research note on Friday, October 20th. Morgan Stanley cut their price objective on shares of Signature Bank from $164.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, September 15th. Finally, ValuEngine lowered shares of Signature Bank from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $154.80.
Signature Bank (NASDAQ SBNY) traded down 1.470% during trading on Friday, reaching $132.355. 52,828 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $125.41 and its 200-day moving average price is $135.10. Signature Bank has a one year low of $116.68 and a one year high of $164.23. The stock has a market cap of $7.16 billion, a P/E ratio of 21.204 and a beta of 0.96.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.10. The business had revenue of $316.94 million for the quarter, compared to analysts’ expectations of $322.22 million. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. During the same period in the prior year, the company posted $2.11 EPS. On average, equities analysts anticipate that Signature Bank will post $7.25 earnings per share for the current fiscal year.
Signature Bank Profile
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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