Teacher Retirement System of Texas bought a new stake in Signature Bank (NASDAQ:SBNY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,063 shares of the bank’s stock, valued at approximately $2,068,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. ING Groep NV increased its stake in Signature Bank by 20.3% in the fourth quarter. ING Groep NV now owns 8,100 shares of the bank’s stock valued at $1,112,000 after acquiring an additional 1,367 shares during the last quarter. Maltese Capital Management LLC bought a new position in Signature Bank in the fourth quarter valued at $14,074,000. Parnassus Investments CA increased its stake in Signature Bank by 22.9% in the fourth quarter. Parnassus Investments CA now owns 1,610,000 shares of the bank’s stock valued at $220,989,000 after acquiring an additional 300,000 shares during the last quarter. Calton & Associates Inc. bought a new position in Signature Bank in the fourth quarter valued at $222,000. Finally, Public Employees Retirement Association of Colorado increased its stake in Signature Bank by 3.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 10,512 shares of the bank’s stock valued at $1,443,000 after acquiring an additional 344 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Signature Bank (SBNY) opened at $149.30 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $8,397.49, a PE ratio of 16.82, a P/E/G ratio of 1.28 and a beta of 1.10. Signature Bank has a 12 month low of $116.68 and a 12 month high of $163.98.
A number of research analysts recently commented on the company. JMP Securities assumed coverage on Signature Bank in a research note on Monday, November 20th. They issued an “outperform” rating and a $160.00 target price on the stock. Piper Jaffray Companies reissued a “hold” rating and issued a $149.00 target price on shares of Signature Bank in a research note on Tuesday, January 9th. Morgan Stanley cut Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 target price on the stock. in a research note on Monday, November 6th. Maxim Group increased their target price on Signature Bank from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Finally, BMO Capital Markets raised their price objective on Signature Bank to $192.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $158.56.
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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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