Neuburgh Advisers LLC lessened its position in shares of Signature Bank (NASDAQ:SBNY) by 6.4% in the second quarter, Holdings Channel.com reports. The fund owned 5,360 shares of the bank’s stock after selling 368 shares during the quarter. Neuburgh Advisers LLC’s holdings in Signature Bank were worth $648,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new position in shares of Signature Bank in the 2nd quarter worth about $2,649,000. Ancora Advisors LLC acquired a new position in shares of Signature Bank during the second quarter worth about $363,000. Resources Investment Advisors LLC. lifted its stake in shares of Signature Bank by 123.5% during the second quarter. Resources Investment Advisors LLC. now owns 54,145 shares of the bank’s stock worth $6,543,000 after purchasing an additional 29,915 shares in the last quarter. M&T Bank Corp boosted its position in shares of Signature Bank by 15.0% in the second quarter. M&T Bank Corp now owns 5,071 shares of the bank’s stock worth $613,000 after buying an additional 660 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in shares of Signature Bank by 2.3% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 670,173 shares of the bank’s stock worth $80,984,000 after buying an additional 14,963 shares during the period. 92.97% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the company. BMO Capital Markets dropped their target price on Signature Bank from $132.00 to $128.00 and set a “market perform” rating on the stock in a report on Thursday, May 30th. ValuEngine upgraded shares of Signature Bank from a “strong sell” rating to a “sell” rating in a report on Friday, August 16th. JPMorgan Chase & Co. set a $138.00 price objective on shares of Signature Bank and gave the company a “buy” rating in a research report on Friday, September 6th. BidaskClub downgraded Signature Bank from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Finally, Wedbush lowered Signature Bank from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $140.00 to $130.00 in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $144.33.
NASDAQ SBNY traded down $1.33 during trading hours on Wednesday, reaching $119.95. 13,009 shares of the company traded hands, compared to its average volume of 355,220. The stock has a market capitalization of $6.58 billion, a PE ratio of 10.63, a PEG ratio of 1.03 and a beta of 1.37. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.26. Signature Bank has a 12 month low of $98.54 and a 12 month high of $137.93. The company has a 50 day moving average of $119.69 and a two-hundred day moving average of $124.40.
Signature Bank (NASDAQ:SBNY) last issued its earnings results on Thursday, July 18th. The bank reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.01. Signature Bank had a net margin of 32.59% and a return on equity of 13.61%. The business had revenue of $334.88 million for the quarter, compared to analyst estimates of $333.25 million. During the same quarter in the prior year, the business posted $2.83 EPS. On average, equities research analysts anticipate that Signature Bank will post 10.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.73%. The ex-dividend date was Wednesday, July 31st. Signature Bank’s dividend payout ratio is currently 19.86%.
Signature Bank Company Profile
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.
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