SG Americas Securities LLC increased its stake in Signature Bank (NASDAQ:SBNY) by 16.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,848 shares of the bank’s stock after buying an additional 1,816 shares during the quarter. SG Americas Securities LLC’s holdings in Signature Bank were worth $1,824,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. IFG Advisory LLC bought a new stake in shares of Signature Bank during the fourth quarter worth $216,000. Calton & Associates Inc. bought a new stake in shares of Signature Bank during the fourth quarter worth $222,000. Fox Run Management L.L.C. bought a new stake in shares of Signature Bank during the fourth quarter worth $223,000. Glenmede Trust Co. NA lifted its position in shares of Signature Bank by 101.9% during the fourth quarter. Glenmede Trust Co. NA now owns 2,110 shares of the bank’s stock worth $289,000 after purchasing an additional 1,065 shares during the last quarter. Finally, BB&T Investment Services Inc. lifted its position in shares of Signature Bank by 27.6% during the fourth quarter. BB&T Investment Services Inc. now owns 2,145 shares of the bank’s stock worth $292,000 after purchasing an additional 464 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.
Several research firms have recently weighed in on SBNY. BidaskClub downgraded Signature Bank from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 8th. ValuEngine downgraded Signature Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Morgan Stanley decreased their target price on Signature Bank from $165.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 24th. TheStreet downgraded Signature Bank from a “b” rating to a “c+” rating in a report on Friday, April 20th. Finally, BMO Capital Markets decreased their price objective on Signature Bank from $192.00 to $171.00 and set an “outperform” rating for the company in a report on Friday, April 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $158.40.
Signature Bank (NASDAQ:SBNY) last posted its earnings results on Thursday, April 19th. The bank reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.02. Signature Bank had a return on equity of 13.29% and a net margin of 18.57%. The company had revenue of $325.35 million for the quarter, compared to analyst estimates of $328.88 million. During the same quarter in the previous year, the firm earned $2.48 earnings per share. sell-side analysts predict that Signature Bank will post 11.26 EPS for the current fiscal year.
About Signature Bank
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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