Signature Bank (NASDAQ:SBNY) Stock Position Decreased by Symmetry Investments LP

Symmetry Investments LP lessened its holdings in Signature Bank (NASDAQ:SBNY – Get Rating) by 90.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,200 shares of the bank’s stock after selling 40,500 shares during the period. Symmetry Investments LP’s holdings in Signature Bank were worth $1,359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in Signature Bank by 103.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 161 shares of the bank’s stock valued at $52,000 after purchasing an additional 82 shares in the last quarter. Trust Co. of Vermont bought a new stake in shares of Signature Bank in the 4th quarter valued at $65,000. CWM LLC acquired a new position in Signature Bank in the 4th quarter worth $72,000. National Bank of Canada FI acquired a new position in Signature Bank in the 4th quarter worth $82,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in Signature Bank by 61.3% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 263 shares of the bank’s stock worth $72,000 after purchasing an additional 100 shares during the period. 96.17% of the stock is owned by hedge funds and other institutional investors.

Shares of SBNY opened at $201.20 on Friday. Signature Bank has a 12 month low of $179.05 and a 12 month high of $374.76. The firm’s 50 day moving average is $274.18 and its 200-day moving average is $307.39. The stock has a market capitalization of $12.20 billion, a PE ratio of 11.77, a P/E/G ratio of 0.93 and a beta of 1.78. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.37.

Signature Bank (NASDAQ:SBNY – Get Rating) last announced its earnings results on Tuesday, April 19th. The bank reported $5.30 EPS for the quarter, topping the consensus estimate of $4.31 by $0.99. Signature Bank had a net margin of 43.29% and a return on equity of 13.97%. The company had revenue of $607.96 million for the quarter, compared to analysts’ expectations of $608.85 million. During the same period last year, the firm earned $3.24 earnings per share. Equities research analysts predict that Signature Bank will post 22.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, April 28th. This represents a $2.24 annualized dividend and a dividend yield of 1.11%. Signature Bank’s dividend payout ratio is presently 13.11%.

A number of equities analysts have recently commented on SBNY shares. Janney Montgomery Scott upgraded shares of Signature Bank from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 19th. JPMorgan Chase & Co. upped their target price on shares of Signature Bank from $440.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, April 20th. The Goldman Sachs Group upped their target price on shares of Signature Bank from $387.00 to $429.00 and gave the company a “buy” rating in a report on Wednesday, January 19th. Morgan Stanley dropped their target price on shares of Signature Bank from $508.00 to $428.00 and set an “overweight” rating on the stock in a report on Monday, March 28th. Finally, Stephens upped their target price on shares of Signature Bank from $380.00 to $415.00 and gave the company an “overweight” rating in a report on Wednesday, January 19th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $381.08.

Signature Bank Company Profile (Get Rating)

Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The company provides various lending products comprising commercial and industrial loans, real estate loans, and letters of credit.

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