SG Americas Securities LLC Grows Position in Signature Bank (SBNY)
SG Americas Securities LLC increased its position in shares of Signature Bank (NASDAQ:SBNY) by 16.5% in the first quarter, HoldingsChannel.com reports. The firm owned 12,848 shares of the bank’s stock after acquiring an additional 1,816 shares during the quarter. SG Americas Securities LLC’s holdings in Signature Bank were worth $1,824,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in SBNY. CI Global Investments Inc. lifted its holdings in shares of Signature Bank by 176.8% during the fourth quarter. CI Global Investments Inc. now owns 920,249 shares of the bank’s stock worth $126,313,000 after purchasing an additional 587,749 shares during the period. Millennium Management LLC acquired a new stake in shares of Signature Bank during the fourth quarter worth about $48,178,000. Parnassus Investments CA lifted its holdings in shares of Signature Bank by 22.9% during the fourth quarter. Parnassus Investments CA now owns 1,610,000 shares of the bank’s stock worth $220,989,000 after purchasing an additional 300,000 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Signature Bank by 47.4% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 450,861 shares of the bank’s stock worth $64,000,000 after purchasing an additional 145,083 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Signature Bank by 26.4% during the fourth quarter. Handelsbanken Fonder AB now owns 597,613 shares of the bank’s stock worth $82,028,000 after purchasing an additional 125,000 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.
Shares of SBNY opened at $130.07 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.96 and a quick ratio of 0.95. Signature Bank has a one year low of $130.05 and a one year high of $131.86. The company has a market cap of $7.23 billion, a P/E ratio of 14.60, a PEG ratio of 1.09 and a beta of 1.14.
SBNY has been the subject of a number of analyst reports. Stephens reissued a “buy” rating on shares of Signature Bank in a report on Friday, January 19th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $181.00 price target on shares of Signature Bank in a report on Tuesday, February 27th. BidaskClub downgraded Signature Bank from a “hold” rating to a “sell” rating in a report on Saturday, April 7th. BMO Capital Markets decreased their price target on Signature Bank from $192.00 to $171.00 and set an “outperform” rating for the company in a report on Friday, April 20th. Finally, Wells Fargo raised Signature Bank from a “market perform” rating to an “outperform” rating in a report on Friday, April 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $158.40.
Signature Bank Company 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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