First Trust Advisors LP decreased its holdings in Signature Bank (NASDAQ:SBNY) by 55.7% during the 3rd quarter, Holdings Channel reports. The firm owned 87,755 shares of the bank’s stock after selling 110,240 shares during the quarter. First Trust Advisors LP’s holdings in Signature Bank were worth $10,078,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SBNY. Massachusetts Financial Services Co. MA grew its position in Signature Bank by 257.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,210,132 shares of the bank’s stock worth $138,972,000 after acquiring an additional 871,477 shares during the last quarter. Millennium Management LLC grew its position in Signature Bank by 300.2% during the 2nd quarter. Millennium Management LLC now owns 843,815 shares of the bank’s stock worth $107,907,000 after acquiring an additional 632,944 shares during the last quarter. Renaissance Technologies LLC grew its position in Signature Bank by 289.1% during the 2nd quarter. Renaissance Technologies LLC now owns 255,174 shares of the bank’s stock worth $32,632,000 after acquiring an additional 189,600 shares during the last quarter. FMR LLC grew its position in Signature Bank by 6.1% during the 2nd quarter. FMR LLC now owns 2,075,478 shares of the bank’s stock worth $265,413,000 after acquiring an additional 119,540 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its position in Signature Bank by 26.2% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 569,131 shares of the bank’s stock worth $72,780,000 after acquiring an additional 118,270 shares during the last quarter. Institutional investors own 96.68% of the company’s stock.

A number of equities research analysts recently weighed in on the company. ValuEngine upgraded Signature Bank from a “strong sell” rating to a “sell” rating in a research report on Friday, September 14th. BidaskClub upgraded Signature Bank from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Barclays reduced their price objective on Signature Bank from $156.00 to $142.00 and set an “overweight” rating on the stock in a research report on Friday, July 20th. Wedbush reduced their price objective on Signature Bank from $144.00 to $131.00 and set a “neutral” rating on the stock in a research report on Friday, July 20th. Finally, JPMorgan Chase & Co. lowered Signature Bank from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $150.00 to $130.00 in a research report on Friday, July 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $143.21.

NASDAQ SBNY opened at $115.57 on Wednesday. Signature Bank has a 12 month low of $105.43 and a 12 month high of $161.92. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 0.97 and a beta of 0.91. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.95 and a current ratio of 0.96.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Thursday, October 18th. The bank reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.01. Signature Bank had a return on equity of 14.34% and a net margin of 27.66%. The firm had revenue of $329.34 million for the quarter, compared to analyst estimates of $331.77 million. During the same quarter in the previous year, the company posted $2.29 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Equities research analysts expect that Signature Bank will post 11.16 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be given a $0.56 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.94%. Signature Bank’s dividend payout ratio (DPR) is presently 25.14%.

ILLEGAL ACTIVITY WARNING: “Signature Bank (SBNY) Stake Lessened by First Trust Advisors LP” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another website, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2018/11/14/signature-bank-sbny-stake-lessened-by-first-trust-advisors-lp.html.

About Signature Bank

Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.

Featured Article: Asset Allocation Models, Which is Right For You?

Want to see what other hedge funds are holding SBNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Signature Bank (NASDAQ:SBNY).

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

Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.