Teacher Retirement System of Texas lessened its stake in shares of Signature Bank (NASDAQ:SBNY) by 42.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,005 shares of the bank’s stock after selling 4,422 shares during the quarter. Teacher Retirement System of Texas’ holdings in Signature Bank were worth $1,358,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in SBNY. California Public Employees Retirement System increased its stake in shares of Signature Bank by 6.9% during the 4th quarter. California Public Employees Retirement System now owns 128,592 shares of the bank’s stock worth $17,397,000 after purchasing an additional 8,266 shares during the last quarter. SG Americas Securities LLC increased its position in Signature Bank by 1,718.6% in the fourth quarter. SG Americas Securities LLC now owns 24,151 shares of the bank’s stock worth $3,267,000 after buying an additional 22,823 shares during the last quarter. Swiss National Bank purchased a new stake in Signature Bank in the fourth quarter worth $16,384,000. Tompkins Financial Corp bought a new stake in shares of Signature Bank in the fourth quarter valued at $271,000. Finally, FIL Ltd lifted its position in shares of Signature Bank by 256.5% during the 4th quarter. FIL Ltd now owns 1,016 shares of the bank’s stock valued at $137,000 after buying an additional 731 shares during the last quarter.
A number of brokerages recently issued reports on SBNY. Morgan Stanley boosted their price objective on Signature Bank from $280.00 to $315.00 and gave the company an “overweight” rating in a research note on Tuesday, May 4th. Credit Suisse Group increased their price objective on Signature Bank from $180.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, March 8th. UBS Group upped their price target on Signature Bank from $190.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, March 3rd. Raymond James raised their price objective on shares of Signature Bank from $290.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 22nd. Finally, Maxim Group upped their target price on shares of Signature Bank from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, April 22nd. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Signature Bank presently has an average rating of “Buy” and an average price target of $246.67.
Signature Bank stock opened at $242.08 on Wednesday. Signature Bank has a fifty-two week low of $71.44 and a fifty-two week high of $260.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 0.95. The stock has a market cap of $12.97 billion, a PE ratio of 21.37, a P/E/G ratio of 2.00 and a beta of 2.00. The firm’s fifty day moving average is $242.96.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Tuesday, April 20th. The bank reported $3.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.85 by $0.39. Signature Bank had a return on equity of 11.10% and a net margin of 30.40%. The business had revenue of $439.21 million for the quarter, compared to the consensus estimate of $431.00 million. During the same quarter last year, the business posted $1.88 earnings per share. On average, equities research analysts forecast that Signature Bank will post 13.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 14th. Investors of record on Monday, May 3rd were issued a dividend of $0.56 per share. The ex-dividend date was Friday, April 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.93%. Signature Bank’s dividend payout ratio is 22.49%.
Signature Bank Company 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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