State of Wisconsin Investment Board Has $4.23 Million Position in Signature Bank (SBNY)
State of Wisconsin Investment Board increased its position in shares of Signature Bank (NASDAQ:SBNY) by 50.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,455 shares of the bank’s stock after buying an additional 9,840 shares during the period. State of Wisconsin Investment Board owned 0.05% of Signature Bank worth $4,228,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SBNY. BlackRock Inc. raised its position in Signature Bank by 6,271.9% in the first quarter. BlackRock Inc. now owns 4,730,210 shares of the bank’s stock worth $701,915,000 after buying an additional 4,655,975 shares during the period. Vanguard Group Inc. raised its position in Signature Bank by 5.2% in the first quarter. Vanguard Group Inc. now owns 4,223,410 shares of the bank’s stock worth $626,711,000 after buying an additional 210,510 shares during the period. Alecta Pensionsforsakring Omsesidigt raised its position in Signature Bank by 7.8% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,341,200 shares of the bank’s stock worth $336,032,000 after buying an additional 168,772 shares during the period. Clearbridge Investments LLC raised its position in Signature Bank by 42.3% in the first quarter. Clearbridge Investments LLC now owns 834,302 shares of the bank’s stock worth $123,802,000 after buying an additional 248,022 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Signature Bank by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 671,296 shares of the bank’s stock worth $99,612,000 after buying an additional 34,698 shares during the period. 95.80% of the stock is owned by institutional investors.
Shares of Signature Bank (NASDAQ SBNY) opened at 128.63 on Friday. The company has a market capitalization of $6.96 billion, a PE ratio of 20.61 and a beta of 0.97. Signature Bank has a one year low of $113.53 and a one year high of $164.23. The stock has a 50 day moving average price of $133.14 and a 200 day moving average price of $142.73.
Signature Bank (NASDAQ:SBNY) last posted its earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by $0.01. Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. The firm had revenue of $316.79 million for the quarter, compared to analysts’ expectations of $324.44 million. During the same period in the previous year, the company earned $1.90 earnings per share. On average, equities research analysts predict that Signature Bank will post $7.23 earnings per share for the current year.
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A number of research firms have commented on SBNY. Deutsche Bank AG reduced their target price on Signature Bank from $178.00 to $162.00 and set a “buy” rating for the company in a report on Thursday, July 20th. BidaskClub lowered Signature Bank from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Wedbush reissued an “outperform” rating and issued a $165.00 target price on shares of Signature Bank in a report on Tuesday, June 27th. ValuEngine raised Signature Bank from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. Finally, Barclays PLC reissued an “overweight” rating and issued a $170.00 target price (down previously from $175.00) on shares of Signature Bank in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $167.85.
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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