Tudor Investment Corp ET AL boosted its holdings in shares of Signature Bank (NASDAQ:SBNY) by 48.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,592 shares of the bank’s stock after acquiring an additional 1,174 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Signature Bank were worth $516,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. AXA boosted its position in Signature Bank by 15.1% during the 2nd quarter. AXA now owns 58,429 shares of the bank’s stock worth $8,386,000 after acquiring an additional 7,662 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Signature Bank by 41.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 359,859 shares of the bank’s stock worth $51,650,000 after purchasing an additional 105,237 shares in the last quarter. Icon Advisers Inc. Co. raised its stake in shares of Signature Bank by 1.1% during the 2nd quarter. Icon Advisers Inc. Co. now owns 114,820 shares of the bank’s stock worth $16,480,000 after purchasing an additional 1,300 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Signature Bank by 19.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 17,033 shares of the bank’s stock worth $2,445,000 after purchasing an additional 2,730 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Signature Bank by 19.8% during the 2nd quarter. Alliancebernstein L.P. now owns 717,047 shares of the bank’s stock worth $102,918,000 after purchasing an additional 118,590 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.
Signature Bank (NASDAQ SBNY) opened at 127.16 on Wednesday. Signature Bank has a 1-year low of $113.53 and a 1-year high of $164.23. The firm has a 50-day moving average price of $125.53 and a 200-day moving average price of $136.39. The firm has a market capitalization of $6.88 billion, a PE ratio of 20.37 and a beta of 0.96.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Wednesday, July 19th. The bank reported $2.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.22 by ($0.01). Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. The business had revenue of $316.79 million during the quarter, compared to the consensus estimate of $324.44 million. During the same period last year, the business posted $1.90 earnings per share. Equities analysts expect that Signature Bank will post $7.20 earnings per share for the current fiscal year.
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A number of equities research analysts have recently weighed in on SBNY shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $169.00 price target (down from $175.00) on shares of Signature Bank in a research note on Monday, June 19th. BidaskClub lowered Signature Bank from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Wedbush reaffirmed an “outperform” rating and issued a $165.00 target price on shares of Signature Bank in a report on Tuesday, June 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $166.00 target price (down previously from $170.00) on shares of Signature Bank in a report on Friday, July 7th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $170.00 target price (down previously from $175.00) on shares of Signature Bank in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $157.27.
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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