Parkside Financial Bank & Trust grew its holdings in shares of Signature Bank (NASDAQ:SBNY – Get Rating) by 236.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 148 shares of the bank's stock after buying an additional 104 shares during the period. Parkside Financial Bank & Trust's holdings in Signature Bank were worth $27,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of SBNY. HighTower Advisors LLC bought a new stake in shares of Signature Bank during the 4th quarter valued at $217,000. Public Sector Pension Investment Board bought a new position in Signature Bank in the 4th quarter worth about $3,274,000. Gotham Asset Management LLC bought a new position in Signature Bank in the 4th quarter worth about $1,041,000. Rockefeller Capital Management L.P. boosted its stake in Signature Bank by 236.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 316 shares of the bank's stock worth $101,000 after purchasing an additional 222 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV bought a new position in Signature Bank in the 4th quarter worth about $2,149,000. Institutional investors own 98.62% of the company's stock.
Get Signature Bank alerts:Signature Bank Stock Down 2.4 %
NASDAQ SBNY opened at $156.14 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $9.47 billion, a P/E ratio of 8.31, a P/E/G ratio of 0.78 and a beta of 1.72. Signature Bank has a one year low of $152.50 and a one year high of $374.76. The stock has a 50 day moving average price of $183.11 and a 200-day moving average price of $216.63.
Signature Bank (NASDAQ:SBNY – Get Rating) last posted its earnings results on Tuesday, July 19th. The bank reported $5.26 EPS for the quarter, beating analysts' consensus estimates of $5.06 by $0.20. The firm had revenue of $686.77 million during the quarter, compared to the consensus estimate of $686.62 million. Signature Bank had a return on equity of 15.02% and a net margin of 43.86%. During the same period in the prior year, the company earned $3.57 EPS. As a group, equities analysts predict that Signature Bank will post 21.68 EPS for the current fiscal year.Signature Bank Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.43%. Signature Bank's dividend payout ratio is currently 11.93%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on SBNY shares. Stephens dropped their price target on shares of Signature Bank to $240.00 in a research note on Friday, July 22nd. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Signature Bank in a research note on Wednesday, July 20th. JPMorgan Chase & Co. decreased their target price on Signature Bank from $460.00 to $300.00 and set an "overweight" rating for the company in a research report on Friday, July 1st. Wedbush decreased their target price on Signature Bank from $240.00 to $225.00 and set an "outperform" rating for the company in a research report on Wednesday, September 7th. Finally, UBS Group decreased their target price on Signature Bank from $309.00 to $288.00 and set a "buy" rating for the company in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $282.38.
Signature Bank Company Profile
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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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