Commonwealth Bank of Australia boosted its stake in shares of Signature Bank (NASDAQ:SBNY) by 5.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,233 shares of the bank’s stock after acquiring an additional 60 shares during the quarter. Commonwealth Bank of Australia’s holdings in Signature Bank were worth $176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Pacad Investment Ltd. purchased a new stake in Signature Bank during the 2nd quarter valued at about $100,000. Quantbot Technologies LP purchased a new stake in Signature Bank during the 1st quarter valued at about $127,000. Israel Discount Bank of New York purchased a new stake in Signature Bank during the 1st quarter valued at about $148,000. Bronfman E.L. Rothschild L.P. boosted its holdings in Signature Bank by 1.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock valued at $202,000 after acquiring an additional 21 shares during the period. Finally, Koch Industries Inc. purchased a new stake in Signature Bank during the 1st quarter valued at about $204,000. Institutional investors own 95.78% of the company’s stock.
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Signature Bank (NASDAQ:SBNY) opened at 119.94 on Tuesday. The stock has a 50 day moving average price of $129.31 and a 200 day moving average price of $139.87. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 19.21 and a beta of 0.97. Signature Bank has a 12 month low of $113.53 and a 12 month high of $164.23.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.01). The firm had revenue of $316.79 million during the quarter, compared to analysts’ expectations of $324.44 million. Signature Bank had a net margin of 23.62% and a return on equity of 12.61%. During the same quarter in the previous year, the firm posted $1.90 EPS. Analysts anticipate that Signature Bank will post $7.22 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on SBNY shares. BidaskClub cut Signature Bank from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Jefferies Group LLC restated a “buy” rating and set a $145.00 target price (down from $169.00) on shares of Signature Bank in a report on Thursday, September 7th. Wedbush restated an “outperform” rating and set a $165.00 target price on shares of Signature Bank in a report on Tuesday, June 27th. Morgan Stanley restated an “overweight” rating and set a $166.00 target price (down from $170.00) on shares of Signature Bank in a report on Friday, July 7th. Finally, ValuEngine lowered Signature Bank from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. Signature Bank has an average rating of “Buy” and a consensus price target of $162.43.
Signature Bank Profile
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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