Signature Bank (SBNY) Shares Bought by Alecta Pensionsforsakring Omsesidigt

Alecta Pensionsforsakring Omsesidigt lifted its position in shares of Signature Bank (NASDAQ:SBNY) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,530,000 shares of the bank’s stock after buying an additional 39,300 shares during the period. Signature Bank makes up about 2.5% of Alecta Pensionsforsakring Omsesidigt’s holdings, making the stock its 15th biggest holding. Alecta Pensionsforsakring Omsesidigt owned 4.60% of Signature Bank worth $290,444,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Andra AP fonden increased its holdings in Signature Bank by 5.4% in the 2nd quarter. Andra AP fonden now owns 37,100 shares of the bank’s stock valued at $4,744,000 after purchasing an additional 1,900 shares in the last quarter. Rhumbline Advisers increased its holdings in Signature Bank by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 101,866 shares of the bank’s stock valued at $13,027,000 after purchasing an additional 1,124 shares in the last quarter. Algebris UK Ltd acquired a new stake in Signature Bank in the 2nd quarter valued at $3,312,000. American International Group Inc. increased its holdings in Signature Bank by 0.7% in the 2nd quarter. American International Group Inc. now owns 108,240 shares of the bank’s stock valued at $13,842,000 after purchasing an additional 778 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Signature Bank by 9.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 236,061 shares of the bank’s stock valued at $30,188,000 after purchasing an additional 19,471 shares in the last quarter.

NASDAQ:SBNY opened at $115.34 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.96 and a beta of 0.91. Signature Bank has a 1-year low of $105.43 and a 1-year high of $161.92.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, October 18th. The bank reported $2.84 EPS for the quarter, topping the consensus estimate of $2.83 by $0.01. Signature Bank had a net margin of 27.66% and a return on equity of 14.34%. The business had revenue of $329.34 million for the quarter, compared to analysts’ expectations of $331.77 million. During the same quarter last year, the company posted $2.29 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that Signature Bank will post 11.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were given a dividend of $0.56 per share. The ex-dividend date was Wednesday, October 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.94%. Signature Bank’s payout ratio is 25.14%.

SBNY has been the subject of a number of analyst reports. ValuEngine raised shares of Signature Bank from a “strong sell” rating to a “sell” rating in a research report on Monday, October 29th. Wells Fargo & Co decreased their price objective on shares of Signature Bank from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday, October 2nd. BidaskClub cut shares of Signature Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. BMO Capital Markets decreased their price objective on shares of Signature Bank from $138.00 to $132.00 and set a “market perform” rating for the company in a research report on Friday, October 19th. Finally, UBS Group raised shares of Signature Bank from a “neutral” rating to a “buy” rating and upped their price objective for the company from $122.00 to $138.00 in a research report on Monday, November 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $141.92.

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About Signature Bank

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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