Raymond James Financial Services Advisors Inc. lowered its stake in Signature Bank (NASDAQ:SBNY) by 45.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,754 shares of the bank’s stock after selling 3,940 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Signature Bank were worth $609,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. YorkBridge Wealth Partners LLC lifted its position in Signature Bank by 6.3% in the second quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock valued at $100,000 after purchasing an additional 41 shares during the last quarter. Pacad Investment Ltd. bought a new stake in Signature Bank in the second quarter valued at approximately $100,000. Commonwealth Bank of Australia lifted its position in Signature Bank by 5.1% in the second quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock valued at $176,000 after purchasing an additional 60 shares during the last quarter. Rockefeller Financial Services Inc. bought a new stake in Signature Bank in the third quarter valued at approximately $192,000. Finally, Bronfman E.L. Rothschild L.P. lifted its position in 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 valued at $202,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 96.33% of the company’s stock.
Signature Bank (NASDAQ SBNY) opened at $138.50 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market capitalization of $7,560.00, a P/E ratio of 15.55, a P/E/G ratio of 1.75 and a beta of 1.02. Signature Bank has a twelve month low of $116.68 and a twelve month high of $164.23.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.10. The business had revenue of $316.94 million during the quarter, compared to the consensus estimate of $322.22 million. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. During the same quarter in the prior year, the company earned $2.11 earnings per share. research analysts expect that Signature Bank will post 7.25 EPS for the current year.
Several brokerages have weighed in on SBNY. TheStreet upgraded Signature Bank from a “c+” rating to a “b” rating in a research report on Wednesday, November 29th. JMP Securities began coverage on Signature Bank in a report on Monday, November 20th. They set an “outperform” rating and a $160.00 target price for the company. Morgan Stanley downgraded Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 target price for the company. in a report on Monday, November 6th. Jefferies Group restated a “buy” rating and set a $155.00 target price on shares of Signature Bank in a report on Tuesday, October 24th. Finally, Barclays set a $140.00 target price on Signature Bank and gave the company a “buy” rating in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $155.13.
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Signature Bank Company 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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