Signature Bank (NASDAQ:SBNY) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of Signature Bank (NASDAQ:SBNYGet Rating) by 29.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 462,529 shares of the bank’s stock after buying an additional 105,528 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.76% of Signature Bank worth $149,614,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SBNY. Morgan Stanley grew its stake in shares of Signature Bank by 50.4% in the 2nd quarter. Morgan Stanley now owns 227,257 shares of the bank’s stock worth $55,826,000 after purchasing an additional 76,141 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Signature Bank by 380.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,808 shares of the bank’s stock worth $1,309,000 after purchasing an additional 3,808 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Signature Bank by 61.3% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 263 shares of the bank’s stock worth $72,000 after purchasing an additional 100 shares during the last quarter. Citigroup Inc. grew its stake in shares of Signature Bank by 1,789.0% in the 3rd quarter. Citigroup Inc. now owns 53,252 shares of the bank’s stock worth $14,500,000 after purchasing an additional 50,433 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Signature Bank by 1.5% in the third quarter. California Public Employees Retirement System now owns 128,894 shares of the bank’s stock worth $35,095,000 after acquiring an additional 1,945 shares in the last quarter. 96.17% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ SBNY opened at $190.89 on Friday. The business has a 50 day simple moving average of $263.64 and a 200 day simple moving average of $303.46. Signature Bank has a 52-week low of $179.05 and a 52-week high of $374.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.90 and a beta of 1.78.

Signature Bank (NASDAQ:SBNYGet Rating) last posted its earnings results on Tuesday, April 19th. The bank reported $5.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.31 by $0.99. The business had revenue of $607.96 million during the quarter, compared to analysts’ expectations of $608.85 million. Signature Bank had a return on equity of 13.97% and a net margin of 43.29%. During the same period in the prior year, the business earned $3.24 EPS. On average, analysts predict that Signature Bank will post 22.02 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, April 28th. Signature Bank’s dividend payout ratio is 13.11%.

SBNY has been the subject of several research reports. Wedbush decreased their price target on shares of Signature Bank from $415.00 to $375.00 and set a “buy” rating for the company in a report on Wednesday, April 20th. JPMorgan Chase & Co. raised their price target on shares of Signature Bank from $440.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday, April 20th. StockNews.com upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Friday, May 13th. Morgan Stanley decreased their price target on shares of Signature Bank from $508.00 to $428.00 and set an “overweight” rating for the company in a report on Monday, March 28th. Finally, Piper Sandler decreased their price target on shares of Signature Bank from $375.00 to $325.00 and set an “overweight” rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $377.92.

Signature Bank Company Profile (Get Rating)

Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The company provides various lending products comprising commercial and industrial loans, real estate loans, and letters of credit.

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

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