Sei Investments Co. Increases Stake in Signature Bank (NASDAQ:SBNY)
Sei Investments Co. boosted its stake in Signature Bank (NASDAQ:SBNY) by 64.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,351 shares of the bank’s stock after buying an additional 28,456 shares during the period. Sei Investments Co.’s holdings in Signature Bank were worth $10,384,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its stake in Signature Bank by 563.7% in the fourth quarter. Macquarie Group Ltd. now owns 85,675 shares of the bank’s stock worth $12,868,000 after buying an additional 72,766 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in Signature Bank by 2.3% in the first quarter. Gulf International Bank UK Ltd now owns 15,720 shares of the bank’s stock worth $2,332,000 after buying an additional 350 shares in the last quarter. Bank of Montreal Can boosted its stake in Signature Bank by 38.5% in the first quarter. Bank of Montreal Can now owns 159,030 shares of the bank’s stock worth $23,599,000 after buying an additional 44,217 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Signature Bank by 4.3% in the first quarter. Capstone Asset Management Co. now owns 4,884 shares of the bank’s stock worth $725,000 after buying an additional 200 shares in the last quarter. Finally, Parametrica Management Ltd bought a new stake in Signature Bank during the first quarter worth approximately $371,000. 97.32% of the stock is owned by institutional investors and hedge funds.
Shares of Signature Bank (SBNY) opened at 129.03 on Friday. Signature Bank has a 12-month low of $113.53 and a 12-month high of $164.23. The stock has a market cap of $6.98 billion, a PE ratio of 20.67 and a beta of 0.95. The firm has a 50-day moving average price of $138.15 and a 200 day moving average price of $145.92.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by $0.01. The business had revenue of $316.79 million during the quarter, compared to analysts’ expectations of $324.44 million. Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. During the same period in the prior year, the company posted $1.90 earnings per share. Equities research analysts predict that Signature Bank will post $7.23 EPS for the current fiscal year.
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SBNY has been the subject of a number of recent research reports. BidaskClub cut Signature Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Wedbush reiterated an “outperform” rating and set a $165.00 price objective on shares of Signature Bank in a research report on Tuesday, June 27th. Morgan Stanley reiterated an “overweight” rating and set a $166.00 price objective (down previously from $170.00) on shares of Signature Bank in a research report on Friday, July 7th. Piper Jaffray Companies reiterated a “neutral” rating and set a $157.00 price objective (down previously from $167.00) on shares of Signature Bank in a research report on Saturday, April 22nd. Finally, Bank of America Corporation reiterated a “buy” rating and set a $175.00 price objective on shares of Signature Bank in a research report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Signature Bank currently has an average rating of “Buy” and a consensus 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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