Signature Bank (SBNY) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its position in shares of Signature Bank (NASDAQ:SBNY) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,059 shares of the bank’s stock after acquiring an additional 2,060 shares during the quarter. Mutual of America Capital Management LLC owned 0.09% of Signature Bank worth $5,519,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SBNY. Massachusetts Financial Services Co. MA boosted its stake in shares of Signature Bank by 257.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,210,132 shares of the bank’s stock worth $138,972,000 after acquiring an additional 871,477 shares in the last quarter. CI Global Investments Inc. boosted its stake in shares of Signature Bank by 176.4% during the 3rd quarter. CI Global Investments Inc. now owns 1,157,940 shares of the bank’s stock worth $132,978,000 after acquiring an additional 738,928 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Signature Bank by 300.2% during the 2nd quarter. Millennium Management LLC now owns 843,815 shares of the bank’s stock worth $107,907,000 after acquiring an additional 632,944 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of Signature Bank during the 3rd quarter worth approximately $29,074,000. Finally, BlackRock Inc. boosted its stake in shares of Signature Bank by 4.6% during the 3rd quarter. BlackRock Inc. now owns 5,253,588 shares of the bank’s stock worth $603,320,000 after acquiring an additional 228,832 shares in the last quarter. 94.52% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently issued reports on SBNY. ValuEngine raised Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Friday, September 14th. BidaskClub raised Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Morgan Stanley reduced their target price on Signature Bank from $135.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 18th. Maxim Group reaffirmed a “buy” rating and issued a $190.00 target price on shares of Signature Bank in a research note on Thursday, October 18th. Finally, Raymond James reduced their target price on Signature Bank from $133.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, October 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Signature Bank currently has an average rating of “Buy” and a consensus target price of $141.92.

SBNY stock opened at $116.26 on Friday. The firm has a market cap of $6.41 billion, a PE ratio of 10.81, a PEG ratio of 0.97 and a beta of 0.93. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.96 and a quick ratio of 0.95. Signature Bank has a 52 week low of $105.43 and a 52 week high of $161.92.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Thursday, October 18th. The bank reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.01. Signature Bank had a return on equity of 14.34% and a net margin of 27.66%. The business had revenue of $329.34 million during the quarter, compared to the consensus estimate of $331.77 million. During the same period in the prior year, the firm posted $2.29 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts forecast that Signature Bank will post 11.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were issued a $0.56 dividend. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $2.24 annualized dividend and a yield of 1.93%. Signature Bank’s dividend payout ratio is currently 25.14%.

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Signature Bank Profile

Signature Bank provides various business and personal 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.

Read More: Are all No-Load Funds Equal?

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Institutional Ownership by Quarter for Signature Bank (NASDAQ:SBNY)

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