Signature Bank (SBNY) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its stake in shares of Signature Bank (NASDAQ:SBNY) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 459,033 shares of the bank’s stock after acquiring an additional 3,677 shares during the quarter. Northern Trust Corp owned approximately 0.83% of Signature Bank worth $58,701,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SBNY. Millennium Management LLC grew its holdings in Signature Bank by 300.2% during the 2nd quarter. Millennium Management LLC now owns 843,815 shares of the bank’s stock worth $107,907,000 after acquiring an additional 632,944 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Signature Bank during the 2nd quarter worth about $43,307,000. Renaissance Technologies LLC grew its holdings in Signature Bank by 289.1% during the 2nd quarter. Renaissance Technologies LLC now owns 255,174 shares of the bank’s stock worth $32,632,000 after acquiring an additional 189,600 shares during the last quarter. FMR LLC grew its holdings in Signature Bank by 6.1% during the 2nd quarter. FMR LLC now owns 2,075,478 shares of the bank’s stock worth $265,413,000 after acquiring an additional 119,540 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in Signature Bank by 26.2% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 569,131 shares of the bank’s stock worth $72,780,000 after acquiring an additional 118,270 shares during the last quarter. 95.70% of the stock is currently owned by hedge funds and other institutional investors.

Signature Bank stock opened at $116.00 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 0.98. Signature Bank has a 1 year low of $108.89 and a 1 year high of $161.92. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.02.

Signature Bank (NASDAQ:SBNY) last released its earnings results on Thursday, July 19th. The bank reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.03. Signature Bank had a net margin of 26.76% and a return on equity of 13.84%. The company had revenue of $326.63 million for the quarter, compared to the consensus estimate of $334.00 million. During the same period in the prior year, the company posted $2.21 EPS. On average, analysts forecast that Signature Bank will post 11.18 earnings per share for the current year.

SBNY has been the topic of a number of research analyst reports. ValuEngine lowered shares of Signature Bank from a “sell” rating to a “strong sell” rating in a report on Monday, June 11th. Piper Jaffray Companies upgraded shares of Signature Bank from a “neutral” rating to an “overweight” rating and cut their target price for the company from $161.92 to $116.68 in a research report on Wednesday, June 13th. BidaskClub upgraded shares of Signature Bank from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 20th. Keefe, Bruyette & Woods restated a “buy” rating and set a $150.00 target price on shares of Signature Bank in a research report on Friday, July 20th. Finally, JPMorgan Chase & Co. downgraded shares of Signature Bank from an “overweight” rating to a “neutral” rating and cut their target price for the company from $150.00 to $130.00 in a research report on Friday, July 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Signature Bank presently has an average rating of “Hold” and an average target price of $149.92.

Signature Bank Profile

Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.

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

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