Sei Investments Co. lifted its holdings in shares of Signature Bank (NASDAQ:SBNY) by 33.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,254 shares of the bank’s stock after acquiring an additional 26,920 shares during the quarter. Sei Investments Co.’s holdings in Signature Bank were worth $14,585,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of SBNY. Parnassus Investments CA bought a new position in shares of Signature Bank during the 3rd quarter worth approximately $167,732,000. Harding Loevner LP boosted its stake in Signature Bank by 138.0% in the 3rd quarter. Harding Loevner LP now owns 1,802,550 shares of the bank’s stock valued at $94,865,000 after purchasing an additional 1,045,206 shares during the period. CI Global Investments Inc. boosted its stake in Signature Bank by 176.8% in the 4th quarter. CI Global Investments Inc. now owns 920,249 shares of the bank’s stock valued at $126,313,000 after purchasing an additional 587,749 shares during the period. Wedge Capital Management L L P NC boosted its stake in Signature Bank by 204.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 791,794 shares of the bank’s stock valued at $101,381,000 after purchasing an additional 531,709 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Signature Bank by 44.6% in the 3rd quarter. Nordea Investment Management AB now owns 1,419,824 shares of the bank’s stock valued at $181,794,000 after purchasing an additional 437,670 shares during the period. Institutional investors own 96.87% of the company’s stock.
SBNY has been the subject of several recent research reports. Stephens restated a “buy” rating on shares of Signature Bank in a research note on Friday, January 19th. Maxim Group boosted their price target on Signature Bank from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, January 19th. BMO Capital Markets boosted their price target on Signature Bank to $192.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Barclays boosted their price target on Signature Bank from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, TheStreet upgraded Signature Bank from a “c+” rating to a “b” rating in a research note on Wednesday, November 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $158.56.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $2.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.20. The firm had revenue of $328.27 million during the quarter, compared to analysts’ expectations of $321.86 million. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. During the same period in the previous year, the firm earned $2.11 EPS. equities research analysts anticipate that Signature Bank will post 11.13 earnings per share for the current fiscal year.
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Signature Bank Company 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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