Alpine Woods Capital Investors LLC Boosts Holdings in Signature Bank (NASDAQ:SBNY)

Alpine Woods Capital Investors LLC lifted its holdings in shares of Signature Bank (NASDAQ:SBNY) by 37.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,000 shares of the bank’s stock after acquiring an additional 3,000 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Signature Bank were worth $1,408,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBNY. Dimensional Fund Advisors LP boosted its stake in Signature Bank by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 267,027 shares of the bank’s stock valued at $39,626,000 after purchasing an additional 5,077 shares during the period. Capstone Asset Management Co. boosted its stake in Signature Bank by 8.6% in the 2nd quarter. Capstone Asset Management Co. now owns 5,304 shares of the bank’s stock valued at $761,000 after purchasing an additional 420 shares during the period. Creative Planning boosted its stake in Signature Bank by 1,750.9% in the 2nd quarter. Creative Planning now owns 2,073 shares of the bank’s stock valued at $298,000 after purchasing an additional 1,961 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in Signature Bank by 514.5% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 8,849 shares of the bank’s stock valued at $1,270,000 after purchasing an additional 7,409 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in Signature Bank by 4.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,678 shares of the bank’s stock valued at $2,824,000 after purchasing an additional 811 shares during the period. Institutional investors and hedge funds own 96.33% of the company’s stock.

A number of research firms have recently weighed in on SBNY. JMP Securities began coverage on Signature Bank in a research report on Monday, November 20th. They set an “outperform” rating and a $160.00 target price for the company. Piper Jaffray Companies reissued a “neutral” rating and set a $140.00 price target on shares of Signature Bank in a report on Friday, October 13th. Morgan Stanley cut Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 price target for the company. in a report on Monday, November 6th. FIG Partners reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Signature Bank in a report on Monday, October 2nd. Finally, BMO Capital Markets raised Signature Bank from a “market perform” rating to an “outperform” rating in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. Signature Bank currently has a consensus rating of “Buy” and a consensus target price of $155.13.

Shares of Signature Bank (SBNY) traded up $1.08 on Thursday, hitting $137.24. The company had a trading volume of 623,247 shares, compared to its average volume of 482,059. Signature Bank has a one year low of $116.68 and a one year high of $164.23. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $7,401.27, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.02.

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, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.10. The company had revenue of $316.94 million during the quarter, compared to analyst estimates 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 last year, the company earned $2.11 earnings per share. sell-side analysts anticipate that Signature Bank will post 7.25 EPS for the current year.

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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.

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

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