Robeco Institutional Asset Management B.V. lifted its stake in Signature Bank (NASDAQ:SBNY) by 77.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,775 shares of the bank’s stock after buying an additional 3,840 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Signature Bank were worth $1,061,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Pearl River Capital LLC acquired a new stake in Signature Bank during the 1st quarter valued at $44,000. Machina Capital S.A.S. increased its holdings in Signature Bank by 362.6% during the 2nd quarter. Machina Capital S.A.S. now owns 458 shares of the bank’s stock valued at $55,000 after purchasing an additional 359 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Signature Bank during the 1st quarter valued at $81,000. ETF Managers Group LLC increased its holdings in Signature Bank by 11.1% during the 1st quarter. ETF Managers Group LLC now owns 1,015 shares of the bank’s stock valued at $130,000 after purchasing an additional 101 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Signature Bank by 37.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,572 shares of the bank’s stock valued at $201,000 after purchasing an additional 427 shares in the last quarter. 92.56% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the company. Wedbush cut Signature Bank from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $140.00 to $130.00 in a report on Wednesday, May 15th. FIG Partners cut Signature Bank from an “outperform” rating to a “market perform” rating in a report on Thursday, April 18th. ValuEngine cut Signature Bank from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. BidaskClub cut Signature Bank from a “buy” rating to a “hold” rating in a report on Friday. Finally, Morgan Stanley dropped their price target on Signature Bank from $146.00 to $145.00 and set an “overweight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $145.67.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $2.72 EPS for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.01. The firm had revenue of $334.88 million for the quarter, compared to analyst estimates of $333.25 million. Signature Bank had a return on equity of 13.61% and a net margin of 32.59%. During the same period last year, the company earned $2.83 EPS. On average, equities analysts expect that Signature Bank will post 10.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $4.48 dividend on an annualized basis and a yield of 3.75%. Signature Bank’s payout ratio is 19.86%.
Signature Bank Company 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.
See Also: Equity Income
Want to see what other hedge funds are holding SBNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Signature Bank (NASDAQ:SBNY).
Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.