Prudential Financial Inc. lessened its stake in Signature Bank (NASDAQ:SBNY) by 73.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,017 shares of the bank’s stock after selling 176,910 shares during the period. Prudential Financial Inc. owned 0.12% of Signature Bank worth $8,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning raised its holdings in shares of Signature Bank by 1,750.9% in the second quarter. Creative Planning now owns 2,073 shares of the bank’s stock valued at $298,000 after buying an additional 1,961 shares during the last quarter. Aperio Group LLC raised its holdings in shares of Signature Bank by 9.0% in the second quarter. Aperio Group LLC now owns 8,143 shares of the bank’s stock valued at $1,169,000 after buying an additional 669 shares during the last quarter. State Treasurer State of Michigan raised its holdings in shares of Signature Bank by 1.4% in the second quarter. State Treasurer State of Michigan now owns 22,100 shares of the bank’s stock valued at $3,172,000 after buying an additional 300 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of Signature Bank by 31.3% in the second quarter. First Citizens Bank & Trust Co. now owns 3,278 shares of the bank’s stock valued at $470,000 after buying an additional 782 shares during the last quarter. Finally, First Midwest Bank Trust Division raised its holdings in shares of Signature Bank by 3.1% in the second quarter. First Midwest Bank Trust Division now owns 6,465 shares of the bank’s stock valued at $928,000 after buying an additional 197 shares during the last quarter. Institutional investors own 96.56% of the company’s stock.

SBNY has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of Signature Bank from $164.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, September 15th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $155.00 target price on shares of Signature Bank in a report on Tuesday, October 24th. Hovde Group raised shares of Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 target price for the company in a report on Monday, September 11th. BMO Capital Markets raised shares of Signature Bank from a “market perform” rating to an “outperform” rating in a report on Friday, October 20th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $140.00 target price on shares of Signature Bank in a report on Friday, October 13th. 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’s stock. Signature Bank presently has a consensus rating of “Buy” and an average price target of $155.13.

Signature Bank (NASDAQ SBNY) opened at $129.57 on Friday. The stock has a market cap of $7,007.24, a PE ratio of 14.90, a P/E/G ratio of 1.67 and a beta of 1.01. Signature Bank has a 1-year low of $116.68 and a 1-year high of $164.23. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71.

Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.10. The firm had revenue of $316.94 million during the quarter, compared to analysts’ expectations of $322.22 million. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. During the same period in the prior year, the company posted $2.11 earnings per share. analysts predict that Signature Bank will post 7.25 EPS for the current fiscal year.

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Signature Bank Company Profile

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.

Institutional Ownership by Quarter for Signature Bank (NASDAQ:SBNY)

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