Jacobs Asset Management LLC Has $6.30 Million Holdings in Signature Bank (SBNY)
Jacobs Asset Management LLC boosted its stake in shares of Signature Bank (NASDAQ:SBNY) by 64.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 49,200 shares of the bank’s stock after purchasing an additional 19,200 shares during the period. Jacobs Asset Management LLC owned approximately 0.09% of Signature Bank worth $6,300,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in SBNY. YorkBridge Wealth Partners LLC grew its position in shares of Signature Bank by 6.3% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock valued at $100,000 after acquiring an additional 41 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of Signature Bank during the 2nd quarter valued at about $100,000. Commonwealth Bank of Australia grew its position in shares of Signature Bank by 5.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock valued at $176,000 after acquiring an additional 60 shares during the period. Rockefeller Financial Services Inc. acquired a new stake in shares of Signature Bank during the 3rd quarter valued at about $192,000. Finally, Bronfman E.L. Rothschild L.P. grew its position in shares of Signature Bank by 1.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock valued at $202,000 after acquiring an additional 21 shares during the period. 96.33% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on SBNY shares. TheStreet upgraded Signature Bank from a “c+” rating to a “b” rating in a research report on Wednesday, November 29th. Barclays set a $140.00 target price on Signature Bank and gave the company a “buy” rating in a research report on Friday, October 20th. Keefe, Bruyette & Woods restated a “buy” rating and set a $142.00 target price on shares of Signature Bank in a research report on Tuesday, October 3rd. Bank of America reaffirmed a “buy” rating and issued a $165.00 price target (down from $175.00) on shares of Signature Bank in a research note on Wednesday, September 20th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $145.00 price target (down from $169.00) on shares of Signature Bank in a research note on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Signature Bank presently has a consensus rating of “Buy” and a consensus target price of $155.13.
Signature Bank (NASDAQ:SBNY) last released its earnings results on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.10. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. The business had revenue of $316.94 million for the quarter, compared to analyst estimates of $322.22 million. During the same period last year, the company posted $2.11 EPS. sell-side analysts predict that Signature Bank will post 7.25 earnings per share for the current fiscal 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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