ProShare Advisors LLC cut its stake in shares of Signature Bank (NASDAQ:SBNY) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,715 shares of the bank’s stock after selling 676 shares during the period. ProShare Advisors LLC’s holdings in Signature Bank were worth $2,035,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Signature Bank by 12.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 842 shares of the bank’s stock valued at $126,000 after buying an additional 96 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Signature Bank by 10.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,278 shares of the bank’s stock worth $150,000 after buying an additional 126 shares during the period. Israel Discount Bank of New York GFN bought a new stake in shares of Signature Bank during the fourth quarter worth about $150,000. DekaBank Deutsche Girozentrale raised its stake in shares of Signature Bank by 19.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,670 shares of the bank’s stock worth $198,000 after buying an additional 270 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Signature Bank by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,440 shares of the bank’s stock worth $200,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 89.89% of the company’s stock.
Signature Bank (NASDAQ:SBNY) opened at 139.27 on Friday. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 17.67 and a beta of 0.94. Signature Bank has a 52-week low of $113.53 and a 52-week high of $164.23. The company’s 50-day moving average price is $140.35 and its 200 day moving average price is $148.27.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Wednesday, April 19th. The bank reported $2.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.05. The business had revenue of $311.63 million for the quarter, compared to the consensus estimate of $311.70 million. Signature Bank had a return on equity of 12.36% and a net margin of 29.14%. During the same quarter last year, the business posted $1.97 EPS. Equities analysts predict that Signature Bank will post $9.47 earnings per share for the current fiscal year.
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SBNY has been the topic of a number of recent analyst reports. Deutsche Bank AG cut their target price on Signature Bank from $181.00 to $178.00 and set a “buy” rating on the stock in a research report on Friday, March 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $170.00 target price on shares of Signature Bank in a research report on Wednesday, March 22nd. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $183.00 target price (up from $167.00) on shares of Signature Bank in a research report on Thursday, April 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $175.00 target price on shares of Signature Bank in a research report on Tuesday, April 11th. Finally, Barclays PLC boosted their target price on Signature Bank from $163.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, January 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $169.30.
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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