Frontier Capital Management Co. LLC lessened its stake in Signature Bank (NASDAQ:SBNY) by 7.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 283,163 shares of the bank’s stock after selling 21,639 shares during the period. Frontier Capital Management Co. LLC owned 0.53% of Signature Bank worth $38,867,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in SBNY. YorkBridge Wealth Partners LLC boosted its position in shares of Signature Bank by 6.3% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock valued at $100,000 after purchasing an additional 41 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Signature Bank during the 3rd quarter valued at about $115,000. Zions Bancorporation bought a new position in shares of Signature Bank during the 3rd quarter valued at about $152,000. Rockefeller Financial Services Inc. bought a new position in shares of Signature Bank during the 3rd quarter valued at about $192,000. Finally, BB&T Investment Services Inc. bought a new position in shares of Signature Bank during the 2nd quarter valued at about $226,000. Hedge funds and other institutional investors own 96.30% of the company’s stock.
Shares of Signature Bank (SBNY) opened at $159.83 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.91 and a current ratio of 0.97. Signature Bank has a 52 week low of $116.68 and a 52 week high of $164.23. The company has a market cap of $8,237.12, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.20. The business had revenue of $328.27 million during the quarter, compared to analyst estimates of $321.86 million. Signature Bank had a net margin of 25.71% and a return on equity of 12.72%. During the same period in the prior year, the firm earned $2.11 earnings per share. equities research analysts predict that Signature Bank will post 10.35 EPS for the current fiscal year.
Several equities analysts have recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of Signature Bank to $192.00 and gave the company an “outperform” rating in a research report on Friday. Maxim Group upped their price objective on shares of Signature Bank from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday. Stephens reaffirmed a “buy” rating on shares of Signature Bank in a research note on Friday. Wells Fargo & Co reaffirmed an “outperform” rating and set a $150.00 price objective (up from $137.00) on shares of Signature Bank in a research note on Tuesday, January 9th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $149.00 price objective on shares of Signature Bank in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $158.56.
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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.
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