Signature Bank (SBNY) Holdings Trimmed by Dai Ichi Life Insurance Company Ltd
Dai Ichi Life Insurance Company Ltd decreased its holdings in Signature Bank (NASDAQ:SBNY) by 74.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,769 shares of the bank’s stock after selling 8,000 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Signature Bank were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. increased its stake in Signature Bank by 1.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock worth $202,000 after purchasing an additional 21 shares during the period. Cadence Capital Management LLC increased its stake in Signature Bank by 1.1% in the second quarter. Cadence Capital Management LLC now owns 2,118 shares of the bank’s stock worth $304,000 after purchasing an additional 23 shares during the period. Boston Private Wealth LLC increased its stake in Signature Bank by 0.3% in the second quarter. Boston Private Wealth LLC now owns 7,568 shares of the bank’s stock worth $1,086,000 after purchasing an additional 25 shares during the period. YorkBridge Wealth Partners LLC increased its stake in shares of Signature Bank by 6.3% during the second quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock valued at $100,000 after buying an additional 41 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of Signature Bank by 1.5% during the second quarter. IFP Advisors Inc now owns 3,128 shares of the bank’s stock valued at $449,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 98.29% of the company’s stock.
Several equities analysts have recently commented on SBNY shares. Morgan Stanley cut their price target on Signature Bank from $164.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, September 15th. Hovde Group upgraded Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 price target on the stock in a research note on Monday, September 11th. BidaskClub lowered Signature Bank from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Keefe, Bruyette & Woods restated a “buy” rating and set a $142.00 price target on shares of Signature Bank in a research note on Tuesday, October 3rd. Finally, Bank of America restated a “buy” rating and set a $165.00 price target (down previously from $175.00) on shares of Signature Bank in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $155.13.
Shares of Signature Bank (NASDAQ:SBNY) opened at $138.73 on Thursday. Signature Bank has a 12-month low of $116.68 and a 12-month high of $164.23. The firm has a market capitalization of $7,212.85, a PE ratio of 15.34, a P/E/G ratio of 1.72 and a beta of 1.01. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.92.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.10. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. The company had revenue of $316.94 million for the quarter, compared to the consensus estimate of $322.22 million. During the same quarter last year, the company earned $2.11 earnings per share. equities analysts expect that Signature Bank will post 7.25 EPS for the current year.
About Signature Bank
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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