Whittier Trust Co. increased its position in Signature Bank (NASDAQ:SBNY) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,683 shares of the company’s stock after buying an additional 179 shares during the period. Whittier Trust Co.’s holdings in Signature Bank were worth $1,834,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in shares of Signature Bank during the second quarter valued at $212,000. Pacad Investment Ltd. acquired a new stake in shares of Signature Bank during the first quarter valued at $354,000. Raymond James Trust N.A. boosted its stake in shares of Signature Bank by 0.3% in the second quarter. Raymond James Trust N.A. now owns 3,247 shares of the company’s stock valued at $406,000 after buying an additional 11 shares during the last quarter. Seven Eight Capital LLC acquired a new stake in shares of Signature Bank during the first quarter valued at $436,000. Finally, BlueMountain Capital Management LLC acquired a new stake in shares of Signature Bank during the first quarter valued at $459,000. Institutional investors and hedge funds own 92.92% of the company’s stock.
Signature Bank (NASDAQ:SBNY) traded up 0.84% during mid-day trading on Friday, hitting $123.32. 414,140 shares of the stock were exchanged. The company has a 50 day moving average price of $118.21 and a 200 day moving average price of $127.47. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 15.96 and a beta of 0.91. Signature Bank has a 52-week low of $114.01 and a 52-week high of $163.15.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by $0.07. Signature Bank had a net margin of 32.08% and a return on equity of 12.89%. During the same quarter last year, the firm posted $1.77 earnings per share. On average, analysts anticipate that Signature Bank will post $8.01 EPS for the current year.
SBNY has been the subject of several research reports. Jefferies Group reaffirmed a “buy” rating and issued a $155.00 price target on shares of Signature Bank in a research report on Thursday, July 7th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Signature Bank in a research report on Saturday, July 9th. Zacks Investment Research raised shares of Signature Bank from a “sell” rating to a “hold” rating in a research report on Friday, September 16th. FBR & Co lowered their price target on shares of Signature Bank from $167.00 to $155.00 and set an “outperform” rating for the company in a research report on Thursday, July 21st. Finally, Barclays PLC raised shares of Signature Bank from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $150.00 to $139.00 in a research report on Wednesday, September 28th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $156.75.
Signature Bank Company Profile
Signature Bank (the Bank) is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area, including those in Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island and Connecticut. The Bank offers a range of business and personal banking products and services.
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