Signature Bank (NASDAQ:SBNY) Shares Bought by First Trust Advisors LP

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First Trust Advisors LP grew its holdings in Signature Bank (NASDAQ:SBNY) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,758 shares of the bank’s stock after purchasing an additional 7,843 shares during the period. First Trust Advisors LP owned approximately 0.17% of Signature Bank worth $12,262,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LS Investment Advisors LLC increased its stake in shares of Signature Bank by 2.3% in the third quarter. LS Investment Advisors LLC now owns 3,752 shares of the bank’s stock worth $447,000 after acquiring an additional 86 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Signature Bank by 1.1% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 10,150 shares of the bank’s stock worth $1,387,000 after acquiring an additional 110 shares during the last quarter. Whittier Trust Co. increased its stake in shares of Signature Bank by 1.1% in the third quarter. Whittier Trust Co. now owns 10,377 shares of the bank’s stock worth $1,237,000 after acquiring an additional 113 shares during the last quarter. 6 Meridian increased its stake in shares of Signature Bank by 3.5% in the fourth quarter. 6 Meridian now owns 4,699 shares of the bank’s stock worth $642,000 after acquiring an additional 157 shares during the last quarter. Finally, AE Wealth Management LLC increased its stake in shares of Signature Bank by 13.2% in the fourth quarter. AE Wealth Management LLC now owns 2,687 shares of the bank’s stock worth $367,000 after acquiring an additional 314 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

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 company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.17 and a beta of 1.37. Signature Bank has a one year low of $111.91 and a one year high of $148.64. The company’s fifty day moving average price is $140.78 and its two-hundred day moving average price is $127.07.

Signature Bank (NASDAQ:SBNY) last posted its earnings results on Tuesday, January 21st. The bank reported $2.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.69 by $0.09. The firm had revenue of $345.58 million for the quarter, compared to the consensus estimate of $335.91 million. Signature Bank had a net margin of 30.36% and a return on equity of 12.57%. During the same period in the prior year, the business posted $2.94 earnings per share. As a group, sell-side analysts anticipate that Signature Bank will post 11.46 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, January 30th. Signature Bank’s payout ratio is 20.63%.

A number of research firms have recently weighed in on SBNY. Morgan Stanley upped their price target on shares of Signature Bank from $143.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Stephens upped their price target on shares of Signature Bank from $140.00 to $144.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. BMO Capital Markets upped their price target on shares of Signature Bank from $146.00 to $154.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd. BidaskClub downgraded shares of Signature Bank from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, ValuEngine raised shares of Signature Bank from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Signature Bank presently has an average rating of “Buy” and an average target price of $145.00.

About Signature Bank

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.

See Also: Relative Strength Index

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

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