BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Signature Bank (NASDAQ:SBNY) by 22.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,856 shares of the bank’s stock after purchasing an additional 7,056 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.07% of Signature Bank worth $5,333,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of SBNY. Steward Partners Investment Advisory LLC purchased a new stake in Signature Bank during the 3rd quarter valued at $115,000. Zions Bancorporation purchased a new stake in Signature Bank during the 3rd quarter valued at $152,000. WINTON GROUP Ltd purchased a new stake in Signature Bank during the 3rd quarter valued at $210,000. IFG Advisory LLC purchased a new stake in Signature Bank during the 4th quarter valued at $216,000. Finally, Calton & Associates Inc. purchased a new stake in Signature Bank during the 4th quarter valued at $222,000. Institutional investors and hedge funds own 94.90% of the company’s stock.
Several analysts have commented on SBNY shares. Stephens reiterated a “buy” rating on shares of Signature Bank in a research note on Friday, January 19th. 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. BMO Capital Markets increased their target price on Signature Bank to $192.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. UBS initiated coverage on Signature Bank in a report on Wednesday, March 21st. They set a “neutral” rating and a $163.00 price target on the stock. Finally, Barclays increased their price target on Signature Bank from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $161.12.
Signature Bank (NASDAQ:SBNY) last announced its earnings results on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, topping the Zacks’ 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 company had revenue of $328.27 million for the quarter, compared to analysts’ expectations of $321.86 million. During the same period last year, the firm earned $2.11 EPS. analysts forecast that Signature Bank will post 11.13 EPS for the current fiscal year.
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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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