BB&T Corp Has $955,000 Holdings in Signature Bank (SBNY)
BB&T Corp trimmed its stake in Signature Bank (NASDAQ:SBNY) by 37.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,952 shares of the bank’s stock after selling 4,242 shares during the period. BB&T Corp’s holdings in Signature Bank were worth $955,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Hermes Investment Management Ltd. grew its position in Signature Bank by 7.5% in the fourth quarter. Hermes Investment Management Ltd. now owns 235,217 shares of the bank’s stock valued at $32,286,000 after acquiring an additional 16,420 shares during the period. SG Americas Securities LLC grew its holdings in shares of Signature Bank by 35.3% during the fourth quarter. SG Americas Securities LLC now owns 11,032 shares of the bank’s stock worth $1,514,000 after purchasing an additional 2,877 shares during the last quarter. Midas Management Corp bought a new stake in shares of Signature Bank during the fourth quarter worth $824,000. CENTRAL TRUST Co grew its holdings in shares of Signature Bank by 6,989.4% during the fourth quarter. CENTRAL TRUST Co now owns 3,332 shares of the bank’s stock worth $457,000 after purchasing an additional 3,285 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Signature Bank during the fourth quarter worth $493,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.
Several brokerages have recently commented on SBNY. BMO Capital Markets increased their target price on Signature Bank to $192.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Maxim Group increased their target price on Signature Bank from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Stephens restated a “buy” rating on shares of Signature Bank in a report on Friday, January 19th. Wells Fargo & Co restated an “outperform” rating and set a $150.00 target price (up previously from $137.00) on shares of Signature Bank in a report on Tuesday, January 9th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $149.00 target price on shares of Signature Bank in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $158.56.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.20. The business had revenue of $328.27 million for the quarter, compared to analysts’ expectations of $321.86 million. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. During the same quarter last year, the business earned $2.11 earnings per share. equities analysts forecast that Signature Bank will post 11.13 EPS for the current year.
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About Signature Bank
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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