California Public Employees Retirement System reduced its position in Signature Bank (NASDAQ:SBNY) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,900 shares of the bank’s stock after selling 900 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Signature Bank worth $15,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Signature Bank by 6,271.9% during the first quarter. BlackRock Inc. now owns 4,730,210 shares of the bank’s stock valued at $701,915,000 after buying an additional 4,655,975 shares during the period. Vanguard Group Inc. increased its holdings in Signature Bank by 1.3% during the second quarter. Vanguard Group Inc. now owns 4,277,955 shares of the bank’s stock valued at $614,014,000 after buying an additional 54,545 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt increased its holdings in Signature Bank by 7.8% during the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,341,200 shares of the bank’s stock valued at $336,032,000 after buying an additional 168,772 shares during the last quarter. TimesSquare Capital Management LLC increased its holdings in Signature Bank by 59.1% during the second quarter. TimesSquare Capital Management LLC now owns 983,300 shares of the bank’s stock valued at $141,133,000 after buying an additional 365,400 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Signature Bank by 42.3% during the first quarter. Clearbridge Investments LLC now owns 834,302 shares of the bank’s stock valued at $123,802,000 after buying an additional 248,022 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $158.00 price target on shares of Signature Bank in a research note on Friday, July 14th. Hovde Group raised shares of Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 price objective for the company in a research report on Monday, September 11th. FIG Partners restated an “outperform” rating and issued a $150.00 price objective on shares of Signature Bank in a research note on Monday. Jefferies Group LLC restated a “buy” rating and issued a $169.00 price objective on shares of Signature Bank in a research note on Wednesday, June 28th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $157.00 target price on shares of Signature Bank in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $158.33.

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Shares of Signature Bank (NASDAQ SBNY) opened at 129.24 on Tuesday. Signature Bank has a one year low of $113.53 and a one year high of $164.23. The firm’s 50-day moving average is $126.15 and its 200-day moving average is $137.36. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 20.70 and a beta of 0.96.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $2.21 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.01). Signature Bank had a net margin of 23.62% and a return on equity of 12.61%. The business had revenue of $316.79 million during the quarter, compared to analyst estimates of $324.44 million. During the same period in the previous year, the business posted $1.90 earnings per share. Equities research analysts forecast that Signature Bank will post $7.20 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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Institutional Ownership by Quarter for Signature Bank (NASDAQ:SBNY)

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