Endeavour Capital Advisors Inc. trimmed its stake in Signature Bank (NASDAQ:SBNY) by 47.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,907 shares of the bank’s stock after selling 77,244 shares during the quarter. Signature Bank makes up 4.8% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its 8th biggest holding. Endeavour Capital Advisors Inc. owned approximately 0.16% of Signature Bank worth $11,792,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in SBNY. Steward Partners Investment Advisory LLC acquired a new position in Signature Bank in the third quarter valued at $115,000. Zions Bancorporation acquired a new position in Signature Bank in the third quarter valued at $152,000. WINTON GROUP Ltd acquired a new position in Signature Bank in the third quarter valued at $210,000. IFG Advisory LLC acquired a new position in Signature Bank in the fourth quarter valued at $216,000. Finally, Calton & Associates Inc. acquired a new position in Signature Bank in the fourth quarter valued at $222,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.
Several equities analysts recently commented on SBNY shares. TheStreet upgraded Signature Bank from a “c+” rating to a “b” rating in a research note on Wednesday, November 29th. BMO Capital Markets reiterated a “buy” rating and issued a $163.00 target price on shares of Signature Bank in a research note on Wednesday, December 20th. Stephens reiterated a “buy” rating on shares of Signature Bank in a research note on Friday, January 19th. Piper Jaffray Companies reiterated a “hold” rating and issued a $149.00 target price on shares of Signature Bank in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $181.00 target price on shares of Signature Bank in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. Signature Bank currently has a consensus rating of “Buy” and a consensus target price of $161.00.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.20. The company had revenue of $328.27 million during the quarter, compared to analyst estimates of $321.86 million. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. During the same period in the prior year, the firm posted $2.11 earnings per share. sell-side analysts anticipate that Signature Bank will post 11.13 EPS for the current fiscal year.
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About Signature Bank
Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.
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