BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Signature Bank (NASDAQ:SBNY) by 32.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,800 shares of the bank’s stock after purchasing an additional 7,863 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.06% of Signature Bank worth $4,072,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SBNY. Russell Investments Group Ltd. grew its stake in shares of Signature Bank by 83.8% in the second quarter. Russell Investments Group Ltd. now owns 59,458 shares of the bank’s stock worth $8,535,000 after acquiring an additional 27,114 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Signature Bank by 21.8% in the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the bank’s stock worth $962,000 after acquiring an additional 1,200 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Signature Bank by 6.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 176,965 shares of the bank’s stock worth $25,400,000 after acquiring an additional 10,693 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Signature Bank by 30.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,423 shares of the bank’s stock worth $1,783,000 after acquiring an additional 2,914 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Signature Bank by 1.3% in the second quarter. Arizona State Retirement System now owns 22,600 shares of the bank’s stock worth $3,244,000 after acquiring an additional 300 shares during the last quarter. 96.33% of the stock is currently owned by institutional investors.

Shares of Signature Bank (NASDAQ SBNY) opened at $133.43 on Friday. Signature Bank has a 52 week low of $116.68 and a 52 week 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. The firm has a market cap of $7,238.08, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

Signature Bank (NASDAQ:SBNY) last posted its quarterly 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 firm had revenue of $316.94 million for the quarter, compared to the consensus estimate of $322.22 million. During the same quarter in the previous year, the company earned $2.11 earnings per share. equities analysts forecast that Signature Bank will post 7.25 EPS for the current fiscal year.

Several brokerages have recently issued reports on SBNY. JMP Securities began coverage on shares of Signature Bank in a research note on Monday, November 20th. They issued an “outperform” rating and a $160.00 price objective on the stock. Piper Jaffray Companies restated a “neutral” rating and issued a $140.00 price objective on shares of Signature Bank in a research note on Friday, October 13th. Morgan Stanley downgraded shares of Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 price objective on the stock. in a research note on Monday, November 6th. FIG Partners reiterated an “outperform” rating and set a $150.00 price target on shares of Signature Bank in a research note on Monday, October 2nd. Finally, BMO Capital Markets upgraded shares of Signature Bank from a “market perform” rating to an “outperform” rating in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $155.13.

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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.

Institutional Ownership by Quarter for Signature Bank (NASDAQ:SBNY)

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