Today, Arizona State Retirement System Reached $2,824,000 position of Signature Bank (SBNY)

Today, Arizona State Retirement System Reached $2,824,000 position  of Signature Bank (SBNY)

Arizona State Retirement System lowered its stake in shares of Signature Bank (NASDAQ:SBNY) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,841 shares of the company’s stock after selling 100 shares during the period. Arizona State Retirement System’s holdings in Signature Bank were worth $2,824,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SBNY. Raymond James Trust N.A. increased its position in shares of Signature Bank by 0.3% in the second quarter. Raymond James Trust N.A. now owns 3,247 shares of the company’s stock valued at $406,000 after buying an additional 11 shares in the last quarter. Montag & Caldwell LLC increased its position in shares of Signature Bank by 0.3% in the second quarter. Montag & Caldwell LLC now owns 6,557 shares of the company’s stock valued at $819,000 after buying an additional 20 shares in the last quarter. World Asset Management Inc increased its position in shares of Signature Bank by 1.1% in the second quarter. World Asset Management Inc now owns 2,647 shares of the company’s stock valued at $331,000 after buying an additional 28 shares in the last quarter. Creative Planning increased its position in shares of Signature Bank by 0.7% in the third quarter. Creative Planning now owns 5,161 shares of the company’s stock valued at $611,000 after buying an additional 34 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC increased its position in shares of Signature Bank by 1.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 3,623 shares of the company’s stock valued at $453,000 after buying an additional 35 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of Signature Bank (NASDAQ:SBNY) traded down 0.09% during midday trading on Friday, reaching $150.21. 215,877 shares of the company traded hands. The stock has a 50 day moving average price of $128.49 and a 200 day moving average price of $125.12. Signature Bank has a 1-year low of $113.53 and a 1-year high of $163.15. The firm has a market capitalization of $8.20 billion, a PE ratio of 20.72 and a beta of 0.78.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, October 20th. The company reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.07. Signature Bank had a net margin of 29.21% and a return on equity of 12.70%. During the same period in the prior year, the firm posted $1.88 EPS. Analysts expect that Signature Bank will post $7.35 earnings per share for the current fiscal year.

Several equities analysts have weighed in on the stock. FBR & Co lowered their price target on shares of Signature Bank from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, October 21st. Jefferies Group lowered their price target on shares of Signature Bank from $150.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, September 9th. Zacks Investment Research raised shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Saturday, September 3rd. Barclays PLC raised shares of Signature Bank from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $150.00 to $139.00 in a report on Wednesday, September 28th. Finally, Hovde Group downgraded shares of Signature Bank from a “market perform” rating to an “underperform” rating in a report on Monday, November 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Signature Bank has a consensus rating of “Buy” and a consensus target price of $151.81.

About Signature Bank

Signature Bank (the Bank) is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area, including those in Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island and Connecticut. The Bank offers a range of business and personal banking products and services.

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