Profund Advisors LLC raised its position in shares of Signature Bank (NASDAQ:SBNY) by 19.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,055 shares of the bank’s stock after acquiring an additional 1,330 shares during the quarter. Profund Advisors LLC’s holdings in Signature Bank were worth $1,106,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new stake in Signature Bank during the 3rd quarter valued at approximately $115,000. Zions Bancorporation purchased a new position in Signature Bank in the 3rd quarter worth approximately $152,000. Calton & Associates Inc. purchased a new position in Signature Bank in the 4th quarter worth approximately $222,000. Fox Run Management L.L.C. purchased a new position in Signature Bank in the 4th quarter worth approximately $223,000. Finally, WINTON GROUP Ltd purchased a new position in Signature Bank in the 3rd quarter worth approximately $210,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the stock. Barclays lifted their target price on shares of Signature Bank from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Wells Fargo reissued an “outperform” rating and set a $150.00 price objective (up previously from $137.00) on shares of Signature Bank in a research report on Tuesday, January 9th. BMO Capital Markets upped their target price on shares of Signature Bank to $192.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Maxim Group upped their target price on shares of Signature Bank from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Finally, UBS began coverage on shares of Signature Bank in a research note on Wednesday, March 21st. They issued a “neutral” rating and a $163.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Signature Bank presently has a consensus rating of “Buy” and a consensus price target of $159.75.
NASDAQ SBNY opened at $136.02 on Friday. The firm has a market capitalization of $7,688.26, a price-to-earnings ratio of 15.27, a P/E/G ratio of 1.17 and a beta of 1.10. Signature Bank has a 12-month low of $116.68 and a 12-month high of $161.92. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.96 and a quick ratio of 0.95.
Signature Bank (NASDAQ:SBNY) last issued its earnings results on Thursday, January 18th. The bank reported $2.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.20. Signature Bank had a net margin of 25.71% and a return on equity of 12.72%. The firm had revenue of $328.27 million during the quarter, compared to analysts’ expectations of $321.86 million. During the same quarter last year, the company posted $2.11 earnings per share. equities analysts anticipate that Signature Bank will post 11.15 earnings per share for the current year.
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About Signature Bank
Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.
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