Mitchell Capital Management Co. cut its stake in shares of Signature Bank (NASDAQ:SBNY) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,102 shares of the company’s stock after selling 5,264 shares during the period. Signature Bank makes up approximately 3.5% of Mitchell Capital Management Co.’s portfolio, making the stock its 6th largest position. Mitchell Capital Management Co.’s holdings in Signature Bank were worth $8,757,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in SBNY. Fox Run Management L.L.C. bought a new position in Signature Bank during the second quarter valued at approximately $212,000. Quantitative Systematic Strategies LLC bought a new position in Signature Bank during the second quarter valued at approximately $222,000. First Citizens Bank & Trust Co. increased its position in Signature Bank by 7.0% in the second quarter. First Citizens Bank & Trust Co. now owns 2,818 shares of the company’s stock valued at $352,000 after buying an additional 184 shares in the last quarter. Raymond James Trust N.A. increased its position in 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. Finally, Seven Eight Capital LLC bought a new position in Signature Bank during the first quarter valued at approximately $436,000. 93.18% of the stock is currently owned by institutional investors and hedge funds.
Signature Bank (NASDAQ:SBNY) traded down 1.58% during mid-day trading on Monday, reaching $115.50. 421,773 shares of the company were exchanged. The stock has a 50-day moving average of $118.68 and a 200 day moving average of $126.75. Signature Bank has a 1-year low of $114.01 and a 1-year high of $163.15. The firm has a market capitalization of $6.20 billion, a P/E ratio of 14.95 and a beta of 0.91.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by $0.07. Signature Bank had a net margin of 32.08% and a return on equity of 12.89%. During the same quarter in the previous year, the business earned $1.77 earnings per share. Equities research analysts forecast that Signature Bank will post $8.01 earnings per share for the current year.
Several research analysts recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Signature Bank in a research note on Saturday, July 9th. Raymond James Financial Inc. raised shares of Signature Bank from an “outperform” rating to a “strong-buy” rating and set a $162.00 price target on the stock in a research note on Tuesday, June 21st. FBR & Co reduced their price target on shares of Signature Bank from $167.00 to $155.00 and set an “outperform” rating on the stock in a research note on Thursday, July 21st. Zacks Investment Research downgraded shares of Signature Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $155.00 price target on shares of Signature Bank in a research note on Thursday, July 7th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $156.75.
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.