Signature Bank (SBNY) Shares Bought by Allianz Asset Management GmbH
Allianz Asset Management GmbH boosted its stake in Signature Bank (NASDAQ:SBNY) by 59.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 242,732 shares of the bank’s stock after acquiring an additional 90,882 shares during the period. Allianz Asset Management GmbH’s holdings in Signature Bank were worth $33,318,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new position in Signature Bank in the 3rd quarter valued at about $115,000. Zions Bancorporation acquired a new position in Signature Bank in the 3rd quarter valued at about $152,000. Calton & Associates Inc. acquired a new position in Signature Bank in the 4th quarter valued at about $222,000. Fox Run Management L.L.C. acquired a new position in Signature Bank in the 4th quarter valued at about $223,000. Finally, WINTON GROUP Ltd acquired a new position in Signature Bank in the 3rd quarter valued at about $210,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.
Several research firms have weighed in on SBNY. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $181.00 target price on shares of Signature Bank in a research report on Tuesday, February 27th. BMO Capital Markets lifted their target price on Signature Bank to $192.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Maxim Group lifted their target price on Signature Bank from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, January 19th. Stephens reaffirmed a “buy” rating on shares of Signature Bank in a research report on Friday, January 19th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $150.00 target price (up from $137.00) on shares of Signature Bank in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $161.00.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.20. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. The business had revenue of $328.27 million during the quarter, compared to the consensus estimate of $321.86 million. During the same period in the previous year, the company posted $2.11 earnings per share. research analysts predict that Signature Bank will post 11.13 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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