Toronto Dominion Bank Has $1.13 Million Position in Signature Bank (NASDAQ:SBNY)

Toronto Dominion Bank lowered its position in shares of Signature Bank (NASDAQ:SBNY) by 11.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,330 shares of the bank’s stock after selling 1,235 shares during the quarter. Toronto Dominion Bank’s holdings in Signature Bank were worth $1,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirova grew its holdings in Signature Bank by 125,743.4% during the second quarter. Mirova now owns 179,956 shares of the bank’s stock valued at $21,746,000 after purchasing an additional 179,813 shares during the period. Bbva USA Bancshares Inc. grew its holdings in Signature Bank by 4.8% during the second quarter. Bbva USA Bancshares Inc. now owns 2,770 shares of the bank’s stock valued at $334,000 after purchasing an additional 126 shares during the period. IFM Investors Pty Ltd grew its holdings in Signature Bank by 5.3% during the second quarter. IFM Investors Pty Ltd now owns 2,964 shares of the bank’s stock valued at $358,000 after purchasing an additional 148 shares during the period. Provident Investment Management Inc. grew its holdings in Signature Bank by 2.7% during the second quarter. Provident Investment Management Inc. now owns 211,421 shares of the bank’s stock valued at $25,548,000 after purchasing an additional 5,603 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in Signature Bank by 11.9% during the second quarter. Teacher Retirement System of Texas now owns 44,970 shares of the bank’s stock valued at $5,434,000 after purchasing an additional 4,783 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.

SBNY traded up $0.02 during trading on Wednesday, reaching $120.50. The company had a trading volume of 6,952 shares, compared to its average volume of 394,138. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.00 and a quick ratio of 0.99. Signature Bank has a 12 month low of $98.54 and a 12 month high of $137.93. The business’s fifty day moving average price is $119.10 and its 200 day moving average price is $123.96. The company has a market cap of $6.65 billion, a P/E ratio of 10.69, a PEG ratio of 1.04 and a beta of 1.37.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $2.72 earnings per share 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 net margin of 32.59% and a return on equity of 13.61%. During the same quarter in the previous year, the firm posted $2.83 earnings per share. As a group, sell-side analysts predict that Signature Bank will post 10.88 EPS for the current fiscal year.

A number of brokerages recently issued reports on SBNY. BidaskClub upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley cut their price target on shares of Signature Bank from $146.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. ValuEngine raised shares of Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Friday, August 16th. Raymond James raised shares of Signature Bank from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $142.00 to $143.00 in a research note on Monday, July 8th. Finally, BMO Capital Markets cut their price target on shares of Signature Bank from $132.00 to $128.00 and set a “market perform” rating on the stock in a research note on Thursday, May 30th. 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 given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $144.33.

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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