JPMorgan Chase & Co. Increases Position in Signature Bank (SBNY)
JPMorgan Chase & Co. raised its stake in shares of Signature Bank (NASDAQ:SBNY) by 17.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,010,459 shares of the company’s stock after buying an additional 291,889 shares during the period. JPMorgan Chase & Co. owned approximately 3.75% of Signature Bank worth $238,140,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in SBNY. Fox Run Management L.L.C. acquired a new stake in shares of Signature Bank during the second quarter valued at about $212,000. Harding Loevner LP boosted its stake in shares of Signature Bank by 2.6% in the second quarter. Harding Loevner LP now owns 793,314 shares of the company’s stock valued at $99,101,000 after buying an additional 20,407 shares in the last quarter. Capstone Asset Management Co. boosted its stake in shares of Signature Bank by 12.5% in the second quarter. Capstone Asset Management Co. now owns 5,454 shares of the company’s stock valued at $681,000 after buying an additional 605 shares in the last quarter. GW&K Investment Management LLC boosted its stake in shares of Signature Bank by 7.5% in the second quarter. GW&K Investment Management LLC now owns 121,248 shares of the company’s stock valued at $15,146,000 after buying an additional 8,414 shares in the last quarter. Finally, British Columbia Investment Management Corp boosted its stake in shares of Signature Bank by 80.5% in the second quarter. British Columbia Investment Management Corp now owns 44,401 shares of the company’s stock valued at $5,547,000 after buying an additional 19,804 shares in the last quarter. 93.49% of the stock is owned by institutional investors.
Shares of Signature Bank (NASDAQ:SBNY) opened at 149.51 on Wednesday. The company has a 50 day moving average of $129.22 and a 200 day moving average of $125.12. Signature Bank has a 52 week low of $113.53 and a 52 week high of $159.87. The firm has a market cap of $8.16 billion, a PE ratio of 20.62 and a beta of 0.78.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Thursday, October 20th. The company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the firm earned $1.88 EPS. On average, equities research analysts anticipate that Signature Bank will post $7.35 EPS for the current fiscal year.
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Several equities analysts have recently commented on SBNY shares. Deutsche Bank AG restated a “buy” rating and issued a $153.00 price objective on shares of Signature Bank in a report on Friday, October 21st. Zacks Investment Research upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Friday, September 16th. BMO Capital Markets lowered shares of Signature Bank from an “outperform” rating to a “market perform” rating and set a $128.00 price objective on the stock. in a report on Friday, October 21st. Hovde Group lowered shares of Signature Bank from a “market perform” rating to an “underperform” rating in a report on Monday, November 14th. Finally, Barclays PLC upgraded shares of Signature Bank from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $150.00 to $139.00 in a report on Wednesday, September 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $151.81.
Signature Bank Company Profile
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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