Keybank National Association OH lowered its position in Signature Bank (NASDAQ:SBNY – Get Rating) by 66.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,746 shares of the bank’s stock after selling 3,460 shares during the period. Keybank National Association OH’s holdings in Signature Bank were worth $512,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. AE Wealth Management LLC bought a new position in shares of Signature Bank in the fourth quarter valued at approximately $257,000. Nordea Investment Management AB bought a new position in shares of Signature Bank in the fourth quarter valued at approximately $997,000. Kestra Advisory Services LLC lifted its holdings in shares of Signature Bank by 5.4% in the fourth quarter. Kestra Advisory Services LLC now owns 1,173 shares of the bank’s stock valued at $379,000 after purchasing an additional 60 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Signature Bank by 27.7% in the fourth quarter. Russell Investments Group Ltd. now owns 38,808 shares of the bank’s stock valued at $12,550,000 after purchasing an additional 8,426 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in shares of Signature Bank in the fourth quarter valued at approximately $65,000. Institutional investors own 96.17% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped their target price on Signature Bank from $300.00 to $285.00 in a report on Tuesday. Stephens dropped their target price on Signature Bank to $325.00 in a report on Friday, May 27th. Raymond James dropped their target price on Signature Bank from $305.00 to $286.00 in a report on Wednesday. Maxim Group decreased their price target on Signature Bank from $450.00 to $425.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company decreased their price target on Signature Bank from $435.00 to $408.00 and set an “overweight” rating for the company in a research report on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.79.
Signature Bank Stock Performance
NASDAQ:SBNY opened at $187.63 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.84. The business has a fifty day simple moving average of $193.34 and a two-hundred day simple moving average of $266.23. Signature Bank has a 1 year low of $165.36 and a 1 year high of $374.76. The company has a market capitalization of $11.38 billion, a P/E ratio of 10.98, a P/E/G ratio of 0.94 and a beta of 1.80.
Signature Bank (NASDAQ:SBNY – Get Rating) last released its earnings results on Tuesday, July 19th. The bank reported $5.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.21. Signature Bank had a return on equity of 13.97% and a net margin of 43.29%. During the same period in the prior year, the company earned $3.57 earnings per share. On average, analysts expect that Signature Bank will post 22.05 earnings per share for the current year.
Signature Bank Dividend Announcement
The company also recently announced a dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be given a $0.56 dividend. This represents a yield of 1.19%. The ex-dividend date is Thursday, July 28th. Signature Bank’s dividend payout ratio is currently 13.11%.
About Signature Bank
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Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The company provides various lending products comprising commercial and industrial loans, real estate loans, and letters of credit.
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