Signature Bank (NASDAQ:SBNY) Shares Bought by TrueNorth Inc.

TrueNorth Inc. increased its stake in Signature Bank (NASDAQ:SBNY) by 18.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,940 shares of the bank’s stock after buying an additional 2,823 shares during the quarter. TrueNorth Inc.’s holdings in Signature Bank were worth $2,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Signature Bank by 1.3% in the second quarter. Vanguard Group Inc. now owns 4,277,955 shares of the bank’s stock worth $614,014,000 after buying an additional 54,545 shares during the last quarter. Capital Research Global Investors lifted its position in Signature Bank by 2.6% in the second quarter. Capital Research Global Investors now owns 2,894,365 shares of the bank’s stock worth $415,428,000 after buying an additional 72,806 shares during the last quarter. State Street Corp lifted its position in Signature Bank by 0.4% in the second quarter. State Street Corp now owns 2,624,668 shares of the bank’s stock worth $376,718,000 after buying an additional 9,285 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt lifted its position in Signature Bank by 7.8% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,341,200 shares of the bank’s stock worth $336,032,000 after buying an additional 168,772 shares during the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in 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 buying an additional 365,400 shares during the last quarter. Institutional investors own 96.25% of the company’s stock.

Shares of Signature Bank (NASDAQ SBNY) traded up $0.56 during trading on Friday, hitting $124.93. The stock had a trading volume of 343,000 shares, compared to its average volume of 487,565. The stock has a market capitalization of $6,850.00, a price-to-earnings ratio of 14.20, a P/E/G ratio of 1.60 and a beta of 1.01. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.92. Signature Bank has a 1 year low of $116.68 and a 1 year 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, 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 firm had revenue of $316.94 million for the quarter, compared to analyst estimates of $322.22 million. During the same quarter last year, the firm posted $2.11 earnings per share. research analysts forecast that Signature Bank will post 7.25 earnings per share for the current year.

A number of brokerages recently issued reports on SBNY. Morgan Stanley downgraded Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 price target for the company. in a research report on Monday, November 6th. Jefferies Group LLC reiterated a “buy” rating and set a $155.00 target price on shares of Signature Bank in a research report on Tuesday, October 24th. Barclays PLC set a $140.00 target price on Signature Bank and gave the stock a “buy” rating in a research report on Friday, October 20th. BMO Capital Markets upgraded Signature Bank from a “market perform” rating to an “outperform” rating in a research report on Friday, October 20th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and set a $140.00 target price on shares of Signature Bank in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Signature Bank presently has an average rating of “Buy” and an average target price 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.

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

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