Signature Bank (SBNY) Shares Bought by Legal & General Group Plc
Legal & General Group Plc boosted its position in Signature Bank (NASDAQ:SBNY) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,735 shares of the bank’s stock after acquiring an additional 6,131 shares during the quarter. Legal & General Group Plc owned 0.17% of Signature Bank worth $11,490,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Signature Bank by 1.3% in the second quarter. Vanguard Group Inc. now owns 4,277,955 shares of the bank’s stock valued at $614,014,000 after acquiring an additional 54,545 shares during the last quarter. Capital Research Global Investors boosted its holdings in Signature Bank by 2.6% in the second quarter. Capital Research Global Investors now owns 2,894,365 shares of the bank’s stock valued at $415,428,000 after acquiring an additional 72,806 shares during the last quarter. State Street Corp boosted its holdings in Signature Bank by 0.4% in the second quarter. State Street Corp now owns 2,624,668 shares of the bank’s stock valued at $376,718,000 after acquiring an additional 9,285 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Signature Bank by 44.6% in the third quarter. Nordea Investment Management AB now owns 1,419,824 shares of the bank’s stock valued at $181,794,000 after acquiring an additional 437,670 shares during the last quarter. Finally, Parnassus Investments CA acquired a new position in Signature Bank in the third quarter valued at $167,732,000. Hedge funds and other institutional investors own 96.33% of the company’s stock.
Signature Bank (SBNY) opened at $136.39 on Tuesday. The company has a market capitalization of $7,385.17, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.76 and a beta of 1.02. Signature Bank has a one year low of $116.68 and a one year high of $164.23. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.92.
SBNY has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Signature Bank from $164.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, September 15th. Hovde Group upgraded Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 target price on the stock in a report on Monday, September 11th. BidaskClub cut Signature Bank from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Keefe, Bruyette & Woods restated a “buy” rating and set a $142.00 price objective on shares of Signature Bank in a research note on Tuesday, October 3rd. Finally, Bank of America restated a “buy” rating and set a $165.00 price objective (down previously from $175.00) on shares of Signature Bank in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. Signature Bank presently has a consensus rating of “Buy” and a consensus target price of $155.13.
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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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