BlackRock Inc. decreased its holdings in Signature Bank (NASDAQ:SBNY) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,470,354 shares of the bank’s stock after selling 384,177 shares during the period. BlackRock Inc. owned about 8.35% of Signature Bank worth $604,793,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. GW&K Investment Management LLC boosted its holdings in Signature Bank by 1.0% in the fourth quarter. GW&K Investment Management LLC now owns 325,081 shares of the bank’s stock valued at $43,980,000 after purchasing an additional 3,107 shares during the last quarter. Swiss National Bank acquired a new position in shares of Signature Bank during the 4th quarter worth about $16,384,000. Ceredex Value Advisors LLC acquired a new position in shares of Signature Bank during the 4th quarter worth about $40,949,000. Community Capital Management Inc. acquired a new position in shares of Signature Bank during the 4th quarter worth about $474,000. Finally, SG Americas Securities LLC raised its position in shares of Signature Bank by 1,718.6% during the 4th quarter. SG Americas Securities LLC now owns 24,151 shares of the bank’s stock worth $3,267,000 after purchasing an additional 22,823 shares during the last quarter. 92.31% of the stock is owned by institutional investors.
NASDAQ:SBNY opened at $217.15 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market capitalization of $11.63 billion, a P/E ratio of 22.88, a PEG ratio of 1.40 and a beta of 1.98. The company has a 50 day moving average price of $173.99 and a 200 day moving average price of $120.01. Signature Bank has a fifty-two week low of $68.98 and a fifty-two week high of $223.12.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Wednesday, January 20th. The bank reported $3.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.37. Signature Bank had a net margin of 25.40% and a return on equity of 10.39%. Research analysts forecast that Signature Bank will post 9.6 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Investors of record on Monday, February 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, January 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.03%. Signature Bank’s payout ratio is currently 20.63%.
Several research firms recently weighed in on SBNY. JPMorgan Chase & Co. upped their price target on shares of Signature Bank from $180.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 9th. Credit Suisse Group increased their price objective on shares of Signature Bank from $120.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, January 26th. Wedbush increased their price objective on shares of Signature Bank from $210.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 11th. Compass Point increased their price objective on shares of Signature Bank from $125.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, December 8th. Finally, Hovde Group upgraded shares of Signature Bank from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $125.00 to $195.00 in a report on Monday, January 25th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $165.71.
Signature Bank Company Profile
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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