First Trust Advisors LP boosted its holdings in shares of Signature Bank (NASDAQ:SBNY) by 9.6% in the fourth quarter, Holdings Channel reports. The firm owned 89,758 shares of the bank’s stock after purchasing an additional 7,843 shares during the quarter. First Trust Advisors LP’s holdings in Signature Bank were worth $12,262,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. LS Investment Advisors LLC increased its holdings in shares of Signature Bank by 2.3% during the third quarter. LS Investment Advisors LLC now owns 3,752 shares of the bank’s stock worth $447,000 after buying an additional 86 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Signature Bank by 1.1% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 10,150 shares of the bank’s stock worth $1,387,000 after buying an additional 110 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Signature Bank by 1.1% during the third quarter. Whittier Trust Co. now owns 10,377 shares of the bank’s stock worth $1,237,000 after buying an additional 113 shares in the last quarter. 6 Meridian increased its holdings in shares of Signature Bank by 3.5% during the fourth quarter. 6 Meridian now owns 4,699 shares of the bank’s stock worth $642,000 after buying an additional 157 shares in the last quarter. Finally, AE Wealth Management LLC increased its holdings in shares of Signature Bank by 13.2% during the fourth quarter. AE Wealth Management LLC now owns 2,687 shares of the bank’s stock worth $367,000 after buying an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.
Shares of Signature Bank stock opened at $144.36 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.98 and a quick ratio of 0.97. The firm has a market cap of $7.83 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.17 and a beta of 1.37. The firm has a 50 day simple moving average of $140.78 and a 200 day simple moving average of $127.07. Signature Bank has a fifty-two week low of $111.91 and a fifty-two week high of $148.64.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.09. The business had revenue of $345.58 million during the quarter, compared to analyst estimates of $335.91 million. Signature Bank had a net margin of 30.36% and a return on equity of 12.57%. During the same quarter last year, the business posted $2.94 earnings per share. On average, sell-side analysts expect that Signature Bank will post 11.46 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Thursday, January 30th. Signature Bank’s dividend payout ratio is currently 20.63%.
Several research firms have recently weighed in on SBNY. BMO Capital Markets raised their price objective on shares of Signature Bank from $146.00 to $154.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. ValuEngine raised shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Hovde Group lowered shares of Signature Bank from an “outperform” rating to a “market perform” rating and set a $161.00 price objective for the company. in a report on Wednesday, January 29th. Stephens raised their price objective on shares of Signature Bank from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Finally, BidaskClub lowered shares of Signature Bank from a “buy” rating to a “hold” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $145.00.
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.
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