Marshall Wace North America L.P. lowered its position in Signature Bank (NASDAQ:SBNY) by 59.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,353 shares of the bank’s stock after selling 2,003 shares during the period. Marshall Wace North America L.P.’s holdings in Signature Bank were worth $332,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in Signature Bank in the first quarter worth approximately $38,000. Berman Capital Advisors LLC lifted its holdings in shares of Signature Bank by 176.8% in the second quarter. Berman Capital Advisors LLC now owns 155 shares of the bank’s stock valued at $38,000 after purchasing an additional 99 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Signature Bank by 111.7% in the second quarter. O Shaughnessy Asset Management LLC now owns 163 shares of the bank’s stock valued at $40,000 after purchasing an additional 86 shares in the last quarter. Tradition Wealth Management LLC bought a new position in shares of Signature Bank in the second quarter valued at approximately $49,000. Finally, Eagle Bay Advisors LLC bought a new position in shares of Signature Bank in the second quarter valued at approximately $68,000. Institutional investors and hedge funds own 89.07% of the company’s stock.
A number of research analysts have recently weighed in on the company. Morgan Stanley raised their target price on Signature Bank from $340.00 to $400.00 and gave the company an “overweight” rating in a report on Wednesday, October 27th. Wells Fargo & Company raised their target price on Signature Bank from $345.00 to $390.00 and gave the company an “overweight” rating in a report on Thursday, October 7th. Raymond James lifted their price target on Signature Bank from $360.00 to $400.00 and gave the stock a “strong-buy” rating in a report on Monday, November 15th. Wedbush lifted their price target on Signature Bank from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 20th. Finally, UBS Group lifted their price target on Signature Bank from $288.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, October 21st. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $310.20.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Monday, October 18th. The bank reported $3.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.72 by $0.16. The company had revenue of $512.24 million during the quarter, compared to analysts’ expectations of $513.34 million. Signature Bank had a return on equity of 12.14% and a net margin of 37.52%. During the same period in the previous year, the business earned $2.62 earnings per share. On average, sell-side analysts predict that Signature Bank will post 14.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Investors of record on Friday, October 29th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, October 28th. Signature Bank’s dividend payout ratio is 16.06%.
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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