John G Ullman & Associates Inc. lessened its holdings in Signature Bank (NASDAQ:SBNY) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,450 shares of the bank’s stock after selling 700 shares during the period. John G Ullman & Associates Inc.’s holdings in Signature Bank were worth $1,625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bbva Compass Bancshares Inc. lifted its stake in Signature Bank by 3.5% in the first quarter. Bbva Compass Bancshares Inc. now owns 2,644 shares of the bank’s stock valued at $339,000 after purchasing an additional 89 shares during the last quarter. Eagle Boston Investment Management Inc. lifted its stake in Signature Bank by 1.2% in the first quarter. Eagle Boston Investment Management Inc. now owns 7,684 shares of the bank’s stock valued at $984,000 after purchasing an additional 91 shares during the last quarter. ETF Managers Group LLC lifted its stake in Signature Bank by 11.1% in the first quarter. ETF Managers Group LLC now owns 1,015 shares of the bank’s stock valued at $130,000 after purchasing an additional 101 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Signature Bank by 1.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,190 shares of the bank’s stock valued at $1,231,000 after purchasing an additional 110 shares during the last quarter. Finally, Cerebellum GP LLC lifted its stake in Signature Bank by 5.7% in the first quarter. Cerebellum GP LLC now owns 2,477 shares of the bank’s stock valued at $317,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 92.27% of the company’s stock.

SBNY stock traded up $3.55 during midday trading on Friday, reaching $119.41. 228,100 shares of the company’s stock traded hands, compared to its average volume of 407,949. The company has a 50-day moving average price of $123.38 and a two-hundred day moving average price of $126.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.99 and a current ratio of 1.00. Signature Bank has a 52 week low of $98.54 and a 52 week high of $137.93. The firm has a market capitalization of $6.46 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 1.00 and a beta of 1.35.

Signature Bank (NASDAQ:SBNY) last issued its earnings results on Thursday, July 18th. The bank reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.01. Signature Bank had a net margin of 32.59% and a return on equity of 13.61%. The business had revenue of $334.88 million for the quarter, compared to analysts’ expectations of $333.25 million. During the same quarter in the previous year, the firm posted $2.83 EPS. As a group, analysts predict that Signature Bank will post 10.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a dividend of $1.12 per share. The ex-dividend date was Wednesday, July 31st. This represents a $4.48 dividend on an annualized basis and a yield of 3.75%. Signature Bank’s payout ratio is 19.86%.

Several research firms recently commented on SBNY. BMO Capital Markets dropped their price objective on Signature Bank from $132.00 to $128.00 and set a “market perform” rating on the stock in a research note on Thursday, May 30th. BidaskClub downgraded Signature Bank from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Raymond James upgraded Signature Bank from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $142.00 to $143.00 in a research note on Monday, July 8th. Wedbush downgraded Signature Bank from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $140.00 to $130.00 in a research note on Wednesday, May 15th. Finally, ValuEngine upgraded Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Signature Bank currently has an average rating of “Buy” and a consensus price target of $145.67.

Signature Bank Profile

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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Institutional Ownership by Quarter for Signature Bank (NASDAQ:SBNY)

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