Texas Permanent School Fund lowered its holdings in shares of Signature Bank (NASDAQ:SBNY) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,288 shares of the bank’s stock after selling 3,845 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of Signature Bank worth $4,981,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Parnassus Investments CA acquired a new stake in Signature Bank during the third quarter worth $167,732,000. Harding Loevner LP increased its stake in Signature Bank by 138.0% during the third quarter. Harding Loevner LP now owns 1,802,550 shares of the bank’s stock worth $94,865,000 after acquiring an additional 1,045,206 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Signature Bank by 204.4% during the third quarter. Wedge Capital Management L L P NC now owns 791,794 shares of the bank’s stock worth $101,381,000 after acquiring an additional 531,709 shares during the last quarter. Koch Industries Inc. increased its stake in Signature Bank by 34,799.2% during the second quarter. Koch Industries Inc. now owns 480,562 shares of the bank’s stock worth $477,000 after acquiring an additional 479,185 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Signature Bank by 44.6% during the third quarter. Nordea Investment Management AB now owns 1,419,824 shares of the bank’s stock worth $181,794,000 after acquiring an additional 437,670 shares during the last quarter. Institutional investors own 94.36% of the company’s stock.
Shares of Signature Bank (SBNY) opened at $149.44 on Tuesday. Signature Bank has a fifty-two week low of $116.68 and a fifty-two week high of $163.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.95. The firm has a market capitalization of $8,212.76, a PE ratio of 20.93, a PEG ratio of 1.25 and a beta of 1.10.
Signature Bank (NASDAQ:SBNY) last posted its earnings results on Thursday, January 18th. The bank reported $2.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.20. The business had revenue of $328.27 million during the quarter, compared to the consensus estimate of $321.86 million. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. During the same period in the previous year, the business earned $2.11 EPS. analysts anticipate that Signature Bank will post 11.13 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on SBNY. JMP Securities began coverage on Signature Bank in a research note on Monday, November 20th. They issued an “outperform” rating and a $160.00 price objective for the company. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $150.00 price objective (up from $137.00) on shares of Signature Bank in a research note on Tuesday, January 9th. Piper Jaffray Companies reissued a “hold” rating and set a $149.00 target price on shares of Signature Bank in a research note on Tuesday, January 9th. Morgan Stanley cut Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 target price for the company. in a research note on Monday, November 6th. Finally, BMO Capital Markets raised Signature Bank from a “market perform” rating to an “outperform” rating in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Signature Bank has an average rating of “Buy” and a consensus price target of $158.56.
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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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