Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Signature Bank (NASDAQ:SBNY) by 128.7% during the fourth quarter, HoldingsChannel reports. The firm owned 59,500 shares of the bank’s stock after buying an additional 33,483 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Signature Bank were worth $8,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Signature Bank by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 542,861 shares of the bank’s stock worth $73,442,000 after buying an additional 9,313 shares during the last quarter. Aristotle Capital Boston LLC grew its position in Signature Bank by 162.1% in the 4th quarter. Aristotle Capital Boston LLC now owns 219,739 shares of the bank’s stock worth $29,728,000 after purchasing an additional 135,917 shares during the period. Verition Fund Management LLC raised its stake in Signature Bank by 17.2% during the 4th quarter. Verition Fund Management LLC now owns 7,901 shares of the bank’s stock valued at $1,069,000 after buying an additional 1,159 shares during the last quarter. Circle Wealth Management LLC bought a new position in shares of Signature Bank during the 4th quarter valued at $262,000. Finally, IHT Wealth Management LLC purchased a new position in Signature Bank in the fourth quarter worth about $307,000. 92.31% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on SBNY. Maxim Group increased their price objective on shares of Signature Bank from $172.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, January 22nd. They noted that the move was a valuation call. Wells Fargo & Company increased their price target on shares of Signature Bank from $220.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, March 8th. Seaport Global Securities began coverage on shares of Signature Bank in a research report on Thursday, December 17th. They set a “buy” rating and a $160.00 price objective for the company. Credit Suisse Group upped their price objective on Signature Bank from $180.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, March 15th. Finally, Hovde Group upgraded Signature Bank from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $125.00 to $195.00 in a research report on Monday, January 25th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Signature Bank presently has an average rating of “Buy” and an average price target of $196.88.
SBNY opened at $223.70 on Thursday. The company has a market capitalization of $11.98 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.98. The firm has a 50-day simple moving average of $225.07 and a two-hundred day simple moving average of $147.79. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.66. Signature Bank has a 52 week low of $71.44 and a 52 week high of $249.94.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Wednesday, January 20th. The bank reported $3.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.37. Signature Bank had a return on equity of 10.39% and a net margin of 25.40%. The business had revenue of $419.17 million for the quarter, compared to the consensus estimate of $419.44 million. As a group, sell-side analysts expect that Signature Bank will post 9.6 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 12th. Investors of record on Monday, February 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, January 29th. Signature Bank’s payout ratio is 20.63%.
Signature Bank Profile
Signature Bank commercial 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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