Capital Analysts LLC Lowers Holdings in Signature Bank (NASDAQ:SBNY)

Capital Analysts LLC decreased its stake in Signature Bank (NASDAQ:SBNY) by 8.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 642 shares of the bank’s stock after selling 61 shares during the quarter. Capital Analysts LLC’s holdings in Signature Bank were worth $145,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CWM LLC raised its holdings in Signature Bank by 44.1% in the 1st quarter. CWM LLC now owns 170 shares of the bank’s stock worth $38,000 after purchasing an additional 52 shares during the period. Arizona State Retirement System raised its holdings in shares of Signature Bank by 0.4% during the first quarter. Arizona State Retirement System now owns 15,594 shares of the bank’s stock valued at $3,526,000 after acquiring an additional 61 shares during the last quarter. Sowell Financial Services LLC raised its holdings in shares of Signature Bank by 124.6% during the first quarter. Sowell Financial Services LLC now owns 128 shares of the bank’s stock valued at $32,000 after acquiring an additional 71 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Signature Bank by 2.7% during the first quarter. Advisors Asset Management Inc. now owns 2,695 shares of the bank’s stock valued at $609,000 after acquiring an additional 72 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Signature Bank by 1.2% during the first quarter. Amalgamated Bank now owns 7,020 shares of the bank’s stock valued at $1,587,000 after acquiring an additional 84 shares during the last quarter.

SBNY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Signature Bank from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, June 11th. Morgan Stanley upped their price target on Signature Bank from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, June 17th. Raymond James upped their price target on Signature Bank from $290.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 22nd. Credit Suisse Group upped their price target on Signature Bank from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, July 9th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $273.00 price target on shares of Signature Bank in a research report on Friday, May 7th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Signature Bank presently has an average rating of “Buy” and a consensus target price of $268.31.

Shares of Signature Bank stock opened at $240.77 on Thursday. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 1.85 and a beta of 1.99. Signature Bank has a fifty-two week low of $71.44 and a fifty-two week high of $263.99. The company has a quick ratio of 0.94, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $245.45.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Monday, July 19th. The bank reported $3.57 EPS for the quarter, topping the consensus estimate of $3.13 by $0.44. Signature Bank had a return on equity of 11.80% and a net margin of 34.08%. During the same quarter last year, the company earned $2.21 earnings per share. Equities research analysts predict that Signature Bank will post 13.4 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 13th. Stockholders of record on Friday, July 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, July 29th. This represents a $2.24 annualized dividend and a dividend yield of 0.93%. Signature Bank’s dividend payout ratio is currently 22.49%.

About Signature Bank

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

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