Signature Bank (SBNY) Holdings Increased by Voya Investment Management LLC
Voya Investment Management LLC raised its position in shares of Signature Bank (NASDAQ:SBNY) by 129.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,581 shares of the bank’s stock after purchasing an additional 31,905 shares during the quarter. Voya Investment Management LLC owned 0.10% of Signature Bank worth $7,236,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in SBNY. Lord Abbett & CO. LLC raised its stake in Signature Bank by 102.1% during the 1st quarter. Lord Abbett & CO. LLC now owns 880,623 shares of the bank’s stock valued at $125,005,000 after purchasing an additional 444,826 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Signature Bank during the 2nd quarter valued at $43,307,000. Renaissance Technologies LLC raised its stake in Signature Bank by 289.1% during the 2nd quarter. Renaissance Technologies LLC now owns 255,174 shares of the bank’s stock valued at $32,632,000 after purchasing an additional 189,600 shares during the period. FMR LLC raised its stake in Signature Bank by 6.1% during the 2nd quarter. FMR LLC now owns 2,075,478 shares of the bank’s stock valued at $265,413,000 after purchasing an additional 119,540 shares during the period. Finally, Epoch Investment Partners Inc. raised its stake in Signature Bank by 13.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,011,913 shares of the bank’s stock valued at $143,641,000 after purchasing an additional 118,792 shares during the period. 95.70% of the stock is currently owned by institutional investors.
SBNY has been the topic of a number of research reports. BMO Capital Markets downgraded shares of Signature Bank from an “outperform” rating to a “market perform” rating and set a $171.00 price target on the stock. in a research note on Friday, July 20th. BidaskClub downgraded shares of Signature Bank from a “sell” rating to a “strong sell” rating in a research note on Friday, July 27th. ValuEngine downgraded shares of Signature Bank from a “sell” rating to a “strong sell” rating in a research note on Monday, June 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $150.00 price target on shares of Signature Bank in a research note on Friday, July 20th. Finally, Wedbush dropped their price target on shares of Signature Bank from $144.00 to $131.00 and set a “neutral” rating on the stock in a research note on Friday, July 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Signature Bank presently has a consensus rating of “Hold” and a consensus target price of $151.36.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, July 19th. The bank reported $2.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.03. The firm had revenue of $326.63 million during the quarter, compared to analysts’ expectations of $334.00 million. Signature Bank had a net margin of 26.76% and a return on equity of 13.84%. During the same period in the prior year, the company posted $2.21 earnings per share. equities analysts anticipate that Signature Bank will post 11.18 EPS for the current year.
About Signature Bank
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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