Canada Pension Plan Investment Board Has $962,000 Position in Signature Bank (SBNY)
Canada Pension Plan Investment Board raised its stake in shares of Signature Bank (NASDAQ:SBNY) by 21.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,700 shares of the bank’s stock after buying an additional 1,200 shares during the period. Canada Pension Plan Investment Board’s holdings in Signature Bank were worth $962,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in SBNY. Quantbot Technologies LP acquired a new position in shares of Signature Bank during the first quarter valued at $127,000. Israel Discount Bank of New York acquired a new position in shares of Signature Bank during the first quarter valued at $148,000. Koch Industries Inc. acquired a new position in shares of Signature Bank during the first quarter valued at $204,000. Mn Services Vermogensbeheer B.V. raised its position in shares of Signature Bank by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,440 shares of the bank’s stock valued at $200,000 after buying an additional 65 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Signature Bank during the first quarter valued at $219,000. Institutional investors and hedge funds own 95.80% of the company’s stock.
Shares of Signature Bank (NASDAQ SBNY) opened at 128.46 on Wednesday. The firm has a 50-day moving average of $134.79 and a 200 day moving average of $143.71. The company has a market cap of $6.95 billion, a P/E ratio of 20.58 and a beta of 0.95. Signature Bank has a 52 week low of $113.53 and a 52 week high of $164.23.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Wednesday, July 19th. The bank reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by $0.01. Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. The business had revenue of $316.79 million during the quarter, compared to analysts’ expectations of $324.44 million. During the same period in the previous year, the business earned $1.90 EPS. Equities analysts anticipate that Signature Bank will post $7.23 earnings per share for the current fiscal year.
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Several equities analysts recently weighed in on the stock. BidaskClub lowered shares of Signature Bank from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $158.00 price objective on shares of Signature Bank in a report on Friday, July 14th. Jefferies Group LLC restated a “buy” rating and issued a $175.00 price objective on shares of Signature Bank in a report on Thursday, May 25th. Barclays PLC restated an “overweight” rating and issued a $170.00 price objective (down from $175.00) on shares of Signature Bank in a report on Wednesday, July 12th. Finally, Wedbush restated an “outperform” rating and issued a $165.00 price objective on shares of Signature Bank in a report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $167.85.
Signature Bank Company 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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