Geode Capital Management LLC Has $181.18 Million Stake in Signature Bank (NASDAQ:SBNY)

Geode Capital Management LLC boosted its position in Signature Bank (NASDAQ:SBNY) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 737,535 shares of the bank’s stock after buying an additional 16,812 shares during the period. Geode Capital Management LLC owned approximately 1.38% of Signature Bank worth $181,175,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Signature Bank by 6.3% in the second quarter. Vanguard Group Inc. now owns 5,285,318 shares of the bank’s stock valued at $1,298,339,000 after buying an additional 315,375 shares during the period. ProShare Advisors LLC lifted its holdings in Signature Bank by 2.0% in the second quarter. ProShare Advisors LLC now owns 9,297 shares of the bank’s stock valued at $2,284,000 after buying an additional 184 shares during the period. Profund Advisors LLC lifted its holdings in Signature Bank by 68.5% in the second quarter. Profund Advisors LLC now owns 8,004 shares of the bank’s stock valued at $1,966,000 after buying an additional 3,255 shares during the period. Shelton Capital Management increased its stake in Signature Bank by 7.5% in the second quarter. Shelton Capital Management now owns 3,214 shares of the bank’s stock valued at $790,000 after purchasing an additional 223 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Signature Bank by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 502,017 shares of the bank’s stock valued at $123,314,000 after purchasing an additional 13,980 shares in the last quarter.

Several research firms have weighed in on SBNY. Wells Fargo & Company lifted their price target on shares of Signature Bank from $345.00 to $390.00 and gave the company an “overweight” rating in a research note on Thursday, October 7th. Raymond James lifted their price target on shares of Signature Bank from $315.00 to $337.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 11th. Jefferies Financial Group began coverage on shares of Signature Bank in a research note on Friday, September 10th. They issued a “buy” rating and a $305.00 price target for the company. Stephens lifted their price target on shares of Signature Bank from $280.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, June 17th. Finally, Wedbush lifted their price target on shares of Signature Bank from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, June 17th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Signature Bank presently has a consensus rating of “Buy” and an average price target of $291.00.

Signature Bank stock opened at $297.88 on Thursday. Signature Bank has a fifty-two week low of $71.44 and a fifty-two week high of $307.50. The stock has a market cap of $15.96 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.95 and a beta of 2.02. The firm’s 50-day simple moving average is $264.50 and its 200 day simple moving average is $249.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Monday, July 19th. The bank reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.44. Signature Bank had a net margin of 34.08% and a return on equity of 11.80%. The business had revenue of $480.59 million for the quarter, compared to analysts’ expectations of $467.43 million. During the same period in the previous year, the company earned $2.21 earnings per share. As a group, analysts predict that Signature Bank will post 14.21 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.75%. The ex-dividend date was Thursday, July 29th. Signature Bank’s dividend payout ratio (DPR) is presently 22.49%.

About Signature Bank

Signature Bank engages in the provision of commercial banking services. It operates through the Commercial Banking and Specialty Finance segments. The Commercial Banking segment comprises of commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities.

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

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