Signature Bank (SBNY) Shares Bought by John G Ullman & Associates Inc.
John G Ullman & Associates Inc. grew its stake in shares of Signature Bank (NASDAQ:SBNY) by 97.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,502 shares of the bank’s stock after acquiring an additional 9,150 shares during the period. John G Ullman & Associates Inc. owned 34,467.21% of Signature Bank worth $2,369,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in Signature Bank by 1.6% in the third quarter. Principal Financial Group Inc. now owns 230,013 shares of the bank’s stock worth $29,451,000 after purchasing an additional 3,535 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Signature Bank by 4.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 20,491 shares of the bank’s stock worth $2,624,000 after purchasing an additional 813 shares in the last quarter. Parnassus Investments CA bought a new stake in Signature Bank in the third quarter worth $167,732,000. State of Wisconsin Investment Board boosted its holdings in Signature Bank by 238.2% in the third quarter. State of Wisconsin Investment Board now owns 99,604 shares of the bank’s stock worth $12,753,000 after purchasing an additional 70,149 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Signature Bank by 1.6% in the third quarter. State Board of Administration of Florida Retirement System now owns 82,746 shares of the bank’s stock worth $10,595,000 after purchasing an additional 1,290 shares in the last quarter. Hedge funds and other institutional investors own 96.25% of the company’s stock.
Shares of Signature Bank (SBNY) traded up $0.44 on Thursday, hitting $124.85. 55,400 shares of the stock were exchanged, compared to its average volume of 551,758. The firm has a market capitalization of $6,807.00, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.63 and a beta of 1.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.91. Signature Bank has a 1-year low of $116.68 and a 1-year high of $164.23.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.10. The business had revenue of $316.94 million during the quarter, compared to analyst estimates of $322.22 million. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. During the same quarter in the prior year, the business earned $2.11 earnings per share. equities research analysts predict that Signature Bank will post 7.25 earnings per share for the current year.
SBNY has been the subject of a number of recent research reports. Barclays PLC reiterated an “overweight” rating and issued a $170.00 price objective (down from $175.00) on shares of Signature Bank in a report on Wednesday, July 12th. BidaskClub cut shares of Signature Bank from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $158.00 price objective on shares of Signature Bank in a report on Friday, July 14th. Maxim Group reiterated a “buy” rating and issued a $175.00 price objective on shares of Signature Bank in a report on Wednesday, July 19th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $157.00 price objective on shares of Signature Bank in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Signature Bank presently has an average rating of “Buy” and an average target price of $154.80.
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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