Deutsche Bank AG Raises Stake in Signature Bank (SBNY)
Deutsche Bank AG lifted its position in shares of Signature Bank (NASDAQ:SBNY) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 434,099 shares of the bank’s stock after purchasing an additional 1,035 shares during the period. Deutsche Bank AG’s holdings in Signature Bank were worth $59,580,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of SBNY. Nationwide Fund Advisors grew its holdings in Signature Bank by 10.1% during the third quarter. Nationwide Fund Advisors now owns 274,608 shares of the bank’s stock worth $35,161,000 after buying an additional 25,190 shares in the last quarter. Pictet Asset Management Ltd. grew its holdings in Signature Bank by 3.0% during the third quarter. Pictet Asset Management Ltd. now owns 20,800 shares of the bank’s stock worth $2,663,000 after buying an additional 600 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Signature Bank during the third quarter worth $747,000. Victory Capital Management Inc. grew its holdings in Signature Bank by 66.1% during the third quarter. Victory Capital Management Inc. now owns 13,317 shares of the bank’s stock worth $1,705,000 after buying an additional 5,300 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its holdings in Signature Bank by 238.2% during the third quarter. State of Wisconsin Investment Board now owns 99,604 shares of the bank’s stock worth $12,753,000 after buying an additional 70,149 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $181.00 price target on shares of Signature Bank in a report on Tuesday, February 27th. JMP Securities assumed coverage on Signature Bank in a report on Monday, November 20th. They set an “outperform” rating and a $160.00 price target for the company. Wells Fargo & Co reiterated an “outperform” rating and set a $150.00 price target (up previously from $137.00) on shares of Signature Bank in a report on Tuesday, January 9th. Piper Jaffray Companies reiterated a “hold” rating and set a $149.00 price target on shares of Signature Bank in a report on Tuesday, January 9th. Finally, TheStreet upgraded Signature Bank from a “c+” rating to a “b” rating in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $161.00.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.20. The firm had revenue of $328.27 million during the quarter, compared to the consensus estimate 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 in the prior year, the company earned $2.11 EPS. equities research analysts expect that Signature Bank will post 11.13 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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