Signature Bank (SBNY) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. grew its stake in Signature Bank (NASDAQ:SBNY) by 6.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 176,965 shares of the bank’s stock after acquiring an additional 10,693 shares during the period. Schwab Charles Investment Management Inc. owned about 0.33% of Signature Bank worth $25,400,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL increased its stake in Signature Bank by 0.6% during the 1st quarter. Tudor Investment Corp ET AL now owns 2,418 shares of the bank’s stock worth $359,000 after buying an additional 14 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Signature Bank by 0.7% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 6,120 shares of the bank’s stock worth $909,000 after buying an additional 40 shares during the period. IFP Advisors Inc increased its stake in Signature Bank by 1.5% during the 2nd quarter. IFP Advisors Inc now owns 3,128 shares of the bank’s stock worth $449,000 after buying an additional 45 shares during the period. Atria Investments LLC increased its stake in Signature Bank by 5.0% during the 2nd quarter. Atria Investments LLC now owns 2,753 shares of the bank’s stock worth $395,000 after buying an additional 130 shares during the period. Finally, World Asset Management Inc increased its stake in Signature Bank by 3.7% during the 2nd quarter. World Asset Management Inc now owns 3,724 shares of the bank’s stock worth $535,000 after buying an additional 132 shares during the period. 95.80% of the stock is currently owned by institutional investors and hedge funds.

Signature Bank (NASDAQ SBNY) opened at 118.92 on Friday. The firm has a market cap of $6.43 billion, a PE ratio of 19.05 and a beta of 0.97. Signature Bank has a one year low of $113.53 and a one year high of $164.23. The stock has a 50 day moving average of $129.78 and a 200 day moving average of $140.44.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.01). The company had revenue of $316.79 million during the quarter, compared to the consensus estimate of $324.44 million. Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. During the same quarter last year, the firm posted $1.90 EPS. On average, equities analysts forecast that Signature Bank will post $7.22 earnings per share for the current year.

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Several brokerages recently weighed in on SBNY. Morgan Stanley cut their target price on shares of Signature Bank from $164.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday. Hovde Group raised shares of Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 target price on the stock in a research note on Monday, September 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $145.00 target price (down from $169.00) on shares of Signature Bank in a research note on Thursday, September 7th. ValuEngine downgraded shares of Signature Bank from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub downgraded shares of Signature Bank from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $162.43.

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.

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

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