State of Wisconsin Investment Board lowered its stake in shares of Signature Bank (NASDAQ:SBNY) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,810 shares of the company’s stock after selling 1,300 shares during the period. State of Wisconsin Investment Board’s holdings in Signature Bank were worth $4,005,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Wolverine Asset Management LLC bought a new stake in Signature Bank during the second quarter valued at $149,000. Tredje AP fonden increased its stake in Signature Bank by 274.4% in the second quarter. Tredje AP fonden now owns 1,460 shares of the company’s stock valued at $182,000 after buying an additional 1,070 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Signature Bank during the second quarter valued at $212,000. Quantitative Systematic Strategies LLC bought a new stake in Signature Bank during the second quarter valued at $222,000. Finally, Atria Investments LLC bought a new stake in Signature Bank during the third quarter valued at $225,000. 93.49% of the stock is owned by institutional investors.
Signature Bank (NASDAQ:SBNY) traded down 1.02% during mid-day trading on Monday, reaching $148.68. The company’s stock had a trading volume of 600,891 shares. Signature Bank has a 12 month low of $113.53 and a 12 month high of $163.15. The company has a market cap of $8.12 billion, a price-to-earnings ratio of 20.50 and a beta of 0.78. The stock’s 50 day moving average is $128.49 and its 200 day moving average is $125.12.
Signature Bank (NASDAQ:SBNY) last announced its earnings results on Thursday, October 20th. The company reported $2.11 EPS for the quarter, topping the consensus estimate of $2.04 by $0.07. Signature Bank had a return on equity of 12.70% and a net margin of 29.21%. During the same quarter in the previous year, the firm earned $1.88 EPS. Equities research analysts predict that Signature Bank will post $7.35 EPS for the current year.
Several research firms recently weighed in on SBNY. Hovde Group downgraded shares of Signature Bank from a “market perform” rating to an “underperform” rating in a report on Monday, November 14th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $153.00 price objective on shares of Signature Bank in a report on Friday, October 21st. FBR & Co reduced their price objective on shares of Signature Bank from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Friday, October 21st. BMO Capital Markets cut shares of Signature Bank from an “outperform” rating to a “market perform” rating and set a $128.00 price target on the stock. in a research report on Friday, October 21st. Finally, Barclays PLC upgraded shares of Signature Bank from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $150.00 to $139.00 in a research report on Wednesday, September 28th. 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 assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $151.81.
Signature Bank Company Profile
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.