Victory Capital Management Inc. Increases Position in Signature Bank (SBNY)

Victory Capital Management Inc. lifted its position in Signature Bank (NASDAQ:SBNY) by 547.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,226 shares of the bank’s stock after purchasing an additional 72,909 shares during the period. Victory Capital Management Inc. owned 0.16% of Signature Bank worth $11,835,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SBNY. Dimensional Fund Advisors LP boosted its holdings in shares of Signature Bank by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 281,845 shares of the bank’s stock valued at $40,455,000 after purchasing an additional 14,818 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in shares of Signature Bank in the second quarter valued at approximately $275,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Signature Bank by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 79,433 shares of the bank’s stock valued at $11,400,000 after purchasing an additional 1,559 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Signature Bank in the second quarter valued at approximately $258,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Signature Bank by 1.1% in the second quarter. Public Employees Retirement System of Ohio now owns 65,341 shares of the bank’s stock valued at $9,378,000 after purchasing an additional 685 shares during the period. Hedge funds and other institutional investors own 94.36% of the company’s stock.

Shares of Signature Bank (NASDAQ:SBNY) opened at $153.00 on Thursday. Signature Bank has a twelve month low of $116.68 and a twelve month high of $163.98. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $8,410.00, a price-to-earnings ratio of 21.43, a PEG ratio of 1.25 and a beta of 1.10.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, beating the consensus estimate of $2.23 by $0.20. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. The firm had revenue of $328.27 million during the quarter, compared to analyst estimates of $321.86 million. During the same quarter in the prior year, the business posted $2.11 EPS. sell-side analysts expect that Signature Bank will post 11.13 earnings per share for the current year.

A number of analysts recently issued reports on SBNY shares. BMO Capital Markets reiterated a “buy” rating and issued a $163.00 price target on shares of Signature Bank in a report on Wednesday, December 20th. TheStreet upgraded Signature Bank from a “c+” rating to a “b” rating in a report on Wednesday, November 29th. Jefferies Group restated a “buy” rating and set a $155.00 target price on shares of Signature Bank in a report on Tuesday, October 24th. Wells Fargo & Co restated an “outperform” rating and set a $150.00 target price (up previously from $137.00) on shares of Signature Bank in a report on Tuesday, January 9th. Finally, Barclays upped their target price on Signature Bank from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $158.56.

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About Signature Bank

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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Institutional Ownership by Quarter for Signature Bank (NASDAQ:SBNY)

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