Stevens Capital Management LP Lowers Stake in Signature Bank (SBNY)
Stevens Capital Management LP cut its holdings in shares of Signature Bank (NASDAQ:SBNY) by 74.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,571 shares of the bank’s stock after selling 16,326 shares during the period. Stevens Capital Management LP’s holdings in Signature Bank were worth $713,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in SBNY. Teachers Advisors LLC grew its position in shares of Signature Bank by 48.3% during the first quarter. Teachers Advisors LLC now owns 83,925 shares of the bank’s stock worth $12,454,000 after acquiring an additional 27,334 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Signature Bank by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 267,027 shares of the bank’s stock worth $39,626,000 after purchasing an additional 5,077 shares during the period. KCG Holdings Inc. lifted its holdings in shares of Signature Bank by 22.4% during the first quarter. KCG Holdings Inc. now owns 2,215 shares of the bank’s stock worth $329,000 after purchasing an additional 406 shares during the period. Tudor Investment Corp ET AL lifted its holdings in shares of Signature Bank by 0.6% during the first quarter. Tudor Investment Corp ET AL now owns 2,418 shares of the bank’s stock worth $359,000 after purchasing an additional 14 shares during the period. Finally, Capstone Asset Management Co. lifted its holdings in shares of Signature Bank by 8.6% during the second quarter. Capstone Asset Management Co. now owns 5,304 shares of the bank’s stock worth $761,000 after purchasing an additional 420 shares during the period. Institutional investors and hedge funds own 97.93% of the company’s stock.
Several equities research analysts recently weighed in on SBNY shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $145.00 price target (down from $169.00) on shares of Signature Bank in a report on Thursday, September 7th. Barclays PLC set a $145.00 price target on Signature Bank and gave the stock a “buy” rating in a report on Wednesday, October 11th. BMO Capital Markets raised Signature Bank from a “market perform” rating to an “outperform” rating in a report on Friday, October 20th. Morgan Stanley decreased their price target on Signature Bank from $164.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, September 15th. Finally, ValuEngine downgraded Signature Bank from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $154.80.
Shares of Signature Bank (NASDAQ SBNY) opened at $130.35 on Thursday. Signature Bank has a fifty-two week low of $116.68 and a fifty-two week high of $164.23. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market capitalization of $7,033.55, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01.
Signature Bank (NASDAQ:SBNY) last released its earnings results on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.10. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. The company had revenue of $316.94 million during the quarter, compared to the consensus estimate of $322.22 million. During the same quarter last year, the company earned $2.11 earnings per share. equities research analysts expect that Signature Bank will post 7.25 EPS for the current year.
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Signature Bank Company 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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