Trinity Street Asset Management LLP raised its stake in shares of Signature Bank (NASDAQ:SBNY) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 227,285 shares of the company’s stock after buying an additional 5,053 shares during the period. Signature Bank comprises 4.7% of Trinity Street Asset Management LLP’s portfolio, making the stock its 13th largest position. Trinity Street Asset Management LLP owned about 0.42% of Signature Bank worth $26,921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Trust N.A. increased its stake in Signature Bank by 0.3% in the second quarter. Raymond James Trust N.A. now owns 3,247 shares of the company’s stock worth $406,000 after buying an additional 11 shares during the last quarter. Montag & Caldwell LLC increased its stake in Signature Bank by 0.3% in the second quarter. Montag & Caldwell LLC now owns 6,557 shares of the company’s stock worth $819,000 after buying an additional 20 shares during the last quarter. World Asset Management Inc increased its stake in Signature Bank by 1.1% in the second quarter. World Asset Management Inc now owns 2,647 shares of the company’s stock worth $331,000 after buying an additional 28 shares during the last quarter. Moody Lynn & Lieberson LLC increased its stake in Signature Bank by 1.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 3,623 shares of the company’s stock worth $453,000 after buying an additional 35 shares during the last quarter. Finally, Anchor Capital Advisors LLC increased its stake in Signature Bank by 0.6% in the second quarter. Anchor Capital Advisors LLC now owns 6,366 shares of the company’s stock worth $795,000 after buying an additional 37 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

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

Signature Bank (NASDAQ:SBNY) traded up 0.23% during midday trading on Monday, reaching $149.69. 589,894 shares of the company traded hands. The firm’s 50 day moving average price is $124.23 and its 200 day moving average price is $124.47. Signature Bank has a 12 month low of $113.53 and a 12 month high of $163.15. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 20.64 and a beta of 0.78.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Thursday, October 20th. The company reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.07. Signature Bank had a net margin of 29.21% and a return on equity of 12.70%. During the same quarter in the prior year, the company posted $1.88 EPS. On average, analysts expect that Signature Bank will post $7.35 earnings per share for the current year.

SBNY has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Signature Bank from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Barclays PLC raised shares of Signature Bank from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $150.00 to $139.00 in a research report on Wednesday, September 28th. BMO Capital Markets cut shares of Signature Bank from an “outperform” rating to a “market perform” rating and set a $128.00 price target for the company. in a research report on Friday, October 21st. Jefferies Group decreased their price target on shares of Signature Bank from $150.00 to $149.00 and set a “buy” rating for the company in a research report on Friday, September 9th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $153.00 price target on shares of Signature Bank in a research report on Friday, October 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Signature Bank currently has a consensus rating of “Buy” and a consensus target price of $151.81.

About Signature Bank

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.

5 Day Chart for NASDAQ:SBNY

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