Stifel Financial Corp lessened its stake in Signature Bank (NASDAQ:SBNY) by 69.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,015 shares of the bank’s stock after selling 33,371 shares during the period. Stifel Financial Corp’s holdings in Signature Bank were worth $1,796,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in Signature Bank in the 2nd quarter valued at about $57,000. FTB Advisors Inc. grew its position in Signature Bank by 242.4% in the 2nd quarter. FTB Advisors Inc. now owns 493 shares of the bank’s stock valued at $59,000 after buying an additional 349 shares in the last quarter. Pinebridge Investments L.P. bought a new position in Signature Bank in the 2nd quarter valued at about $73,000. Commonwealth Bank of Australia grew its position in Signature Bank by 21.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 728 shares of the bank’s stock valued at $87,000 after buying an additional 131 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in Signature Bank in the 2nd quarter valued at about $126,000. Hedge funds and other institutional investors own 90.95% of the company’s stock.
Shares of NASDAQ SBNY opened at $134.62 on Friday. Signature Bank has a twelve month low of $98.54 and a twelve month high of $137.93. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.09 and a beta of 1.35. The firm has a 50-day moving average of $124.21 and a two-hundred day moving average of $120.91.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $2.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.70 by $0.05. Signature Bank had a net margin of 31.37% and a return on equity of 13.09%. The company had revenue of $334.00 million during the quarter, compared to the consensus estimate of $339.14 million. During the same period in the prior year, the company earned $2.84 EPS. As a group, research analysts predict that Signature Bank will post 10.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Thursday, October 31st. Signature Bank’s payout ratio is 19.86%.
A number of equities analysts recently issued reports on SBNY shares. ValuEngine upgraded shares of Signature Bank from a “strong sell” rating to a “sell” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. set a $138.00 target price on shares of Signature Bank and gave the company a “buy” rating in a research report on Friday, September 6th. Morgan Stanley increased their target price on shares of Signature Bank from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday. Stephens increased their target price on shares of Signature Bank from $140.00 to $144.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, BidaskClub upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $138.89.
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.
Recommended Story: Why do company’s buyback their stock?
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.