World Asset Management Inc Has $535,000 Position in Signature Bank (NASDAQ:SBNY)

World Asset Management Inc boosted its position in shares of Signature Bank (NASDAQ:SBNY) by 3.7% during the second quarter, Holdings Channel reports. The institutional investor owned 3,724 shares of the bank’s stock after buying an additional 132 shares during the period. World Asset Management Inc’s holdings in Signature Bank were worth $535,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SBNY. Macquarie Group Ltd. increased its stake in shares of Signature Bank by 563.7% in the fourth quarter. Macquarie Group Ltd. now owns 85,675 shares of the bank’s stock worth $12,868,000 after buying an additional 72,766 shares in the last quarter. Sheets Smith Wealth Management increased its stake in shares of Signature Bank by 0.8% in the first quarter. Sheets Smith Wealth Management now owns 5,233 shares of the bank’s stock worth $777,000 after buying an additional 39 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Signature Bank by 2.3% in the first quarter. Gulf International Bank UK Ltd now owns 15,720 shares of the bank’s stock worth $2,332,000 after buying an additional 350 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Signature Bank by 38.5% in the first quarter. Bank of Montreal Can now owns 159,030 shares of the bank’s stock worth $23,599,000 after buying an additional 44,217 shares in the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of Signature Bank by 4.3% in the first quarter. Capstone Asset Management Co. now owns 4,884 shares of the bank’s stock worth $725,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 97.32% of the company’s stock.

Signature Bank (SBNY) opened at 133.66 on Thursday. The company has a market capitalization of $7.23 billion, a PE ratio of 21.41 and a beta of 0.95. The stock’s 50 day moving average is $138.38 and its 200 day moving average is $146.04. Signature Bank has a 52 week low of $113.53 and a 52 week high of $164.23.

Signature Bank (NASDAQ:SBNY) last issued its earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by $0.01. Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. The firm had revenue of $316.79 million for the quarter, compared to analyst estimates of $324.44 million. During the same period in the previous year, the company earned $1.90 earnings per share. Analysts predict that Signature Bank will post $7.23 EPS for the current fiscal year.

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SBNY has been the topic of a number of analyst reports. FBR & Co reiterated an “outperform” rating and issued a $170.00 price target (down from $180.00) on shares of Signature Bank in a research report on Saturday, April 22nd. Barclays PLC reiterated an “overweight” rating and issued a $175.00 price target (up from $173.00) on shares of Signature Bank in a research report on Saturday, April 22nd. Piper Jaffray Companies reiterated a “neutral” rating and issued a $157.00 price target (down from $167.00) on shares of Signature Bank in a research report on Saturday, April 22nd. ValuEngine upgraded shares of Signature Bank from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $175.00 price target on shares of Signature Bank in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Signature Bank currently has a consensus rating of “Buy” and a consensus price target of $167.85.

Signature Bank Company Profile

Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.

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

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