Paloma Partners Management Co increased its stake in Signature Bank (NASDAQ:SBNY) by 278.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,660 shares of the bank’s stock after purchasing an additional 5,635 shares during the quarter. Paloma Partners Management Co’s holdings in Signature Bank were worth $1,051,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank increased its holdings in shares of Signature Bank by 8.7% in the 4th quarter. Comerica Bank now owns 85,887 shares of the bank’s stock valued at $13,312,000 after purchasing an additional 6,889 shares in the last quarter. Parnassus Investments CA increased its holdings in Signature Bank by 22.9% during the 4th quarter. Parnassus Investments CA now owns 1,610,000 shares of the bank’s stock valued at $220,989,000 after acquiring an additional 300,000 shares in the last quarter. Tdam USA Inc. increased its holdings in Signature Bank by 200.7% during the 3rd quarter. Tdam USA Inc. now owns 12,815 shares of the bank’s stock valued at $1,641,000 after acquiring an additional 8,553 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Signature Bank by 11.3% during the 3rd quarter. Wells Fargo & Company MN now owns 186,078 shares of the bank’s stock valued at $23,824,000 after acquiring an additional 18,954 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Signature Bank by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 285,641 shares of the bank’s stock valued at $36,571,000 after acquiring an additional 3,796 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.
SBNY has been the subject of several recent research reports. TheStreet upgraded shares of Signature Bank from a “c+” rating to a “b” rating in a report on Wednesday, November 29th. BMO Capital Markets restated a “buy” rating and set a $163.00 target price on shares of Signature Bank in a report on Wednesday, December 20th. Maxim Group raised their target price on shares of Signature Bank from $175.00 to $200.00 and gave the company a “buy” rating in a report on Friday, January 19th. Stephens restated a “buy” rating on shares of Signature Bank in a report on Friday, January 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $181.00 target price on shares of Signature Bank in a report on Tuesday, February 27th. 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 stock. The stock currently has a consensus rating of “Buy” and an average target price of $161.00.
Shares of Signature Bank stock opened at $155.62 on Monday. The company has a market cap of $8,555.83, a PE ratio of 17.14, a PEG ratio of 1.30 and a beta of 1.11. Signature Bank has a twelve month low of $116.68 and a twelve month high of $161.92. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 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 the consensus estimate 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 previous year, the firm posted $2.11 earnings per share. research analysts predict that Signature Bank will post 11.13 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.
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