State of Alaska Department of Revenue reduced its holdings in shares of Signature Bank (NASDAQ:SBNY) by 8.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,875 shares of the bank’s stock after selling 862 shares during the quarter. State of Alaska Department of Revenue’s holdings in Signature Bank were worth $1,212,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. LS Investment Advisors LLC boosted its stake in shares of Signature Bank by 2.3% during the 3rd quarter. LS Investment Advisors LLC now owns 3,752 shares of the bank’s stock valued at $447,000 after buying an additional 86 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Signature Bank by 0.4% during the 2nd quarter. Victory Capital Management Inc. now owns 24,639 shares of the bank’s stock valued at $2,977,000 after buying an additional 93 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of Signature Bank by 1.1% during the 3rd quarter. Whittier Trust Co. now owns 10,377 shares of the bank’s stock valued at $1,237,000 after buying an additional 113 shares during the last quarter. MAI Capital Management boosted its stake in shares of Signature Bank by 5.2% during the 2nd quarter. MAI Capital Management now owns 2,570 shares of the bank’s stock valued at $311,000 after buying an additional 126 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in shares of Signature Bank by 21.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 728 shares of the bank’s stock valued at $87,000 after buying an additional 131 shares during the last quarter. Institutional investors own 90.91% of the company’s stock.
Several equities analysts have recently commented on SBNY shares. Wells Fargo & Co reduced their target price on Signature Bank from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Hovde Group upgraded Signature Bank from a “market perform” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Wednesday, November 20th. Morgan Stanley increased their target price on Signature Bank from $143.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. ValuEngine upgraded Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Monday, November 25th. Finally, Stephens increased their target price on Signature Bank from $140.00 to $144.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Signature Bank has an average rating of “Buy” and an average target price of $138.89.
Shares of SBNY opened at $138.25 on Friday. The business’s fifty day moving average price is $133.24 and its 200 day moving average price is $124.30. Signature Bank has a 12-month low of $111.91 and a 12-month high of $138.66. The stock has a market capitalization of $7.50 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.14 and a beta of 1.38. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.98 and a quick ratio of 0.98.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $2.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.70 by $0.05. Signature Bank had a return on equity of 13.09% and a net margin of 31.37%. The firm had revenue of $334.00 million for the quarter, compared to analysts’ expectations of $339.14 million. During the same period last year, the business posted $2.84 earnings per share. As a group, research analysts anticipate that Signature Bank will post 10.82 earnings per share for the current fiscal year.
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.
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