Swiss National Bank Invests $16.38 Million in Signature Bank (NASDAQ:SBNY)


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Swiss National Bank acquired a new position in shares of Signature Bank (NASDAQ:SBNY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 121,100 shares of the bank’s stock, valued at approximately $16,384,000. Swiss National Bank owned about 0.23% of Signature Bank at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new stake in Signature Bank in the 4th quarter valued at about $110,000. Acadian Asset Management LLC acquired a new stake in Signature Bank in the 3rd quarter valued at about $79,000. Park Avenue Securities LLC acquired a new stake in Signature Bank in the 4th quarter valued at about $239,000. BBVA USA Bancshares Inc. acquired a new stake in Signature Bank in the 4th quarter valued at about $242,000. Finally, Cutler Group LP acquired a new stake in Signature Bank in the 4th quarter valued at about $251,000. Institutional investors own 92.31% of the company’s stock.

SBNY has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Signature Bank from $180.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, February 9th. Raymond James raised their price objective on shares of Signature Bank from $223.00 to $255.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 16th. Compass Point raised their price objective on shares of Signature Bank from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, December 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Signature Bank from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, January 25th. Finally, Seaport Global Securities assumed coverage on shares of Signature Bank in a research report on Thursday, December 17th. They set a “buy” rating and a $160.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $165.71.

Shares of NASDAQ:SBNY opened at $217.15 on Tuesday. Signature Bank has a 1 year low of $68.98 and a 1 year high of $223.12. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.40 and a beta of 1.98. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.96 and a quick ratio of 0.95. The company’s 50 day simple moving average is $173.99 and its 200 day simple moving average is $120.01.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Wednesday, January 20th. The bank reported $3.26 EPS for the quarter, beating the consensus estimate of $2.89 by $0.37. Signature Bank had a net margin of 25.40% and a return on equity of 10.39%. As a group, analysts anticipate that Signature Bank will post 9.6 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Shareholders of record on Monday, February 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, January 29th. This represents a $2.24 annualized dividend and a yield of 1.03%. Signature Bank’s dividend payout ratio is currently 20.63%.

About Signature Bank

Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.

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

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