Signature Bank (SBNY) Short Interest Up 61.4% in November
Signature Bank (NASDAQ:SBNY) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,688,548 shares, an increase of 61.4% from the October 31st total of 1,046,088 shares. Based on an average daily trading volume, of 1,018,890 shares, the short-interest ratio is currently 1.7 days.
SBNY has been the topic of a number of recent research reports. Barclays PLC raised Signature Bank from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $150.00 to $139.00 in a report on Wednesday, September 28th. Zacks Investment Research raised Signature Bank from a “sell” rating to a “hold” rating in a report on Saturday, September 3rd. FBR & Co decreased their target price on Signature Bank from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, October 21st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $153.00 target price on shares of Signature Bank in a report on Friday, October 21st. Finally, BMO Capital Markets cut Signature Bank from an “outperform” rating to a “market perform” rating and set a $128.00 target price on the stock. in a report on Friday, October 21st. One equities research 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 stock. The company currently has a consensus rating of “Buy” and an average price target of $151.81.
Signature Bank (NASDAQ:SBNY) opened at 148.68 on Tuesday. Signature Bank has a 52-week low of $113.53 and a 52-week high of $159.87. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 20.50 and a beta of 0.78. The company has a 50-day moving average price of $129.22 and a 200 day moving average price of $125.12.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, October 20th. The company reported $2.11 earnings per share for the quarter, topping 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 period in the prior year, the company earned $1.88 earnings per share. On average, analysts expect that Signature Bank will post $7.35 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of SBNY. Raymond James Trust N.A. increased its position 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 worth $406,000 after buying an additional 11 shares during the period. Montag & Caldwell LLC increased its position in Signature Bank by 0.3% in the second quarter. Montag & Caldwell LLC now owns 6,557 shares of the company’s stock valued at $819,000 after buying an additional 20 shares during the period. World Asset Management Inc increased its position in Signature Bank by 1.1% in the second quarter. World Asset Management Inc now owns 2,647 shares of the company’s stock valued at $331,000 after buying an additional 28 shares during the period. Creative Planning increased its position in Signature Bank by 0.7% in the third quarter. Creative Planning now owns 5,161 shares of the company’s stock valued at $611,000 after buying an additional 34 shares during the period. Finally, Moody Lynn & Lieberson LLC increased its position in Signature Bank by 1.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 3,623 shares of the company’s stock valued at $453,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 93.49% of the company’s stock.
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.
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