Signature Bank (SBNY) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. increased its stake in Signature Bank (NASDAQ:SBNY) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,277,955 shares of the bank’s stock after purchasing an additional 54,545 shares during the period. Vanguard Group Inc. owned approximately 7.91% of Signature Bank worth $614,014,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Signature Bank by 6,271.9% in the first quarter. BlackRock Inc. now owns 4,730,210 shares of the bank’s stock valued at $701,915,000 after purchasing an additional 4,655,975 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in Signature Bank by 59.1% during the second quarter. TimesSquare Capital Management LLC now owns 983,300 shares of the bank’s stock valued at $141,133,000 after purchasing an additional 365,400 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in Signature Bank during the second quarter valued at approximately $37,330,000. Clearbridge Investments LLC lifted its position in Signature Bank by 42.3% during the first quarter. Clearbridge Investments LLC now owns 834,302 shares of the bank’s stock valued at $123,802,000 after purchasing an additional 248,022 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Signature Bank during the second quarter valued at approximately $25,310,000. Institutional investors own 95.78% of the company’s stock.
Shares of Signature Bank (NASDAQ:SBNY) opened at 128.04 on Monday. The stock has a market capitalization of $6.93 billion, a PE ratio of 20.51 and a beta of 0.96. The company’s 50-day moving average price is $128.78 and its 200 day moving average price is $139.56. Signature Bank has a one year low of $113.53 and a one year high of $164.23.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Wednesday, July 19th. The bank reported $2.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.22 by ($0.01). Signature Bank had a net margin of 23.62% and a return on equity of 12.61%. The business had revenue of $316.79 million for the quarter, compared to the consensus estimate of $324.44 million. During the same quarter last year, the business earned $1.90 EPS. Analysts anticipate that Signature Bank will post $7.21 EPS for the current year.
SBNY has been the topic of a number of research analyst reports. BidaskClub raised shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Morgan Stanley raised their price objective on shares of Signature Bank from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. Keefe, Bruyette & Woods set a $164.00 price objective on shares of Signature Bank and gave the stock a “buy” rating in a report on Monday, June 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $169.00 price objective (down from $175.00) on shares of Signature Bank in a report on Monday, June 19th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $170.00 target price (down from $175.00) on shares of Signature Bank in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $158.93.
Signature Bank Profile
Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.
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