Pendal Group Ltd reduced its position in shares of Signature Bank (NASDAQ:SBNY) by 5.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,914 shares of the bank’s stock after selling 107 shares during the quarter. Pendal Group Ltd’s holdings in Signature Bank were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan increased its stake in Signature Bank by 1.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,190 shares of the bank’s stock worth $1,231,000 after purchasing an additional 110 shares in the last quarter. Aperio Group LLC boosted its position in Signature Bank by 11.3% during the 2nd quarter. Aperio Group LLC now owns 5,763 shares of the bank’s stock worth $696,000 after acquiring an additional 586 shares during the last quarter. KBC Group NV boosted its position in Signature Bank by 411.6% during the 2nd quarter. KBC Group NV now owns 106,591 shares of the bank’s stock worth $12,880,000 after acquiring an additional 85,757 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Signature Bank by 59.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 19,930 shares of the bank’s stock worth $2,408,000 after acquiring an additional 7,432 shares during the last quarter. Finally, Highland Capital Management LLC acquired a new position in Signature Bank during the 2nd quarter worth approximately $2,387,000. 92.27% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on SBNY. ValuEngine raised Signature Bank from a “strong sell” rating to a “sell” rating in a research report on Friday. BMO Capital Markets reduced their price target on Signature Bank from $132.00 to $128.00 and set a “market perform” rating for the company in a research report on Thursday, May 30th. Wedbush downgraded Signature Bank from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $140.00 to $130.00 in a research report on Wednesday, May 15th. Raymond James raised Signature Bank from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $142.00 to $143.00 in a research report on Monday, July 8th. Finally, Morgan Stanley reduced their price target on Signature Bank from $146.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Signature Bank presently has an average rating of “Buy” and an average price target of $145.67.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Thursday, July 18th. The bank reported $2.72 EPS for the quarter, beating the consensus estimate of $2.71 by $0.01. The company had revenue of $334.88 million during the quarter, compared to the consensus estimate of $333.25 million. Signature Bank had a return on equity of 13.61% and a net margin of 32.59%. During the same quarter in the prior year, the firm posted $2.83 EPS. As a group, sell-side analysts predict that Signature Bank will post 10.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Wednesday, July 31st. Signature Bank’s payout ratio is presently 19.86%.
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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