TCW Group Inc. lessened its position in shares of Signature Bank (NASDAQ:SBNY – Get Rating) by 35.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 127,125 shares of the bank's stock after selling 70,543 shares during the period. TCW Group Inc. owned approximately 0.21% of Signature Bank worth $22,782,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of SBNY. HighTower Advisors LLC bought a new stake in Signature Bank during the 4th quarter worth approximately $217,000. Public Sector Pension Investment Board bought a new position in shares of Signature Bank in the 4th quarter worth $3,274,000. Rockefeller Capital Management L.P. increased its holdings in shares of 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 buying an additional 222 shares during the last quarter. Blair William & Co. IL bought a new position in shares of Signature Bank in the 4th quarter worth $281,000. Finally, Nuveen Asset Management LLC increased its holdings in shares of Signature Bank by 5.4% in the 4th quarter. Nuveen Asset Management LLC now owns 335,734 shares of the bank's stock worth $108,600,000 after buying an additional 17,201 shares during the last quarter. Institutional investors own 98.62% of the company's stock.
Get Signature Bank alerts:Signature Bank Trading Up 3.6 %
SBNY traded up $5.47 during trading on Wednesday, hitting $155.61. 4,874 shares of the stock traded hands, compared to its average volume of 656,796. The firm has a market capitalization of $9.79 billion, a P/E ratio of 7.99, a price-to-earnings-growth ratio of 0.73 and a beta of 1.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a 50-day moving average of $181.46 and a 200 day moving average of $214.55. Signature Bank has a 12-month low of $146.00 and a 12-month high of $374.76.
Signature Bank (NASDAQ:SBNY – Get Rating) last announced its quarterly earnings results on Tuesday, July 19th. The bank reported $5.26 earnings per share for the quarter, beating the consensus estimate of $5.06 by $0.20. Signature Bank had a net margin of 43.86% and a return on equity of 15.02%. The business had revenue of $686.77 million during the quarter, compared to analysts' expectations of $686.62 million. During the same quarter in the prior year, the company posted $3.57 EPS. Equities research analysts anticipate that Signature Bank will post 21.68 EPS for the current year.Signature Bank Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were issued a $0.56 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $2.24 annualized dividend and a yield of 1.44%. Signature Bank's dividend payout ratio (DPR) is presently 11.93%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Compass Point decreased their price target on shares of Signature Bank from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Friday, June 10th. The Goldman Sachs Group cut their price objective on shares of Signature Bank from $377.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, May 31st. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Signature Bank in a research note on Wednesday, July 20th. Jefferies Financial Group cut their price objective on shares of Signature Bank from $248.00 to $205.00 and set a "buy" rating for the company in a research note on Thursday, September 8th. Finally, StockNews.com raised shares of Signature Bank from a "sell" rating to a "hold" rating in a research note on Monday, August 15th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $282.38.
Signature Bank 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.
Further Reading
- Get a free copy of the StockNews.com research report on Signature Bank (SBNY)
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