Tandem Investment Advisors Inc. raised its stake in Signature Bank (NASDAQ:SBNY) by 7.8% in the 1st quarter, HoldingsChannel reports. The fund owned 79,310 shares of the bank’s stock after buying an additional 5,729 shares during the quarter. Signature Bank accounts for about 2.2% of Tandem Investment Advisors Inc.’s holdings, making the stock its 25th biggest holding. Tandem Investment Advisors Inc.’s holdings in Signature Bank were worth $10,157,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Signature Bank by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,726,790 shares of the bank’s stock valued at $542,823,000 after acquiring an additional 94,200 shares in the last quarter. Vanguard Group Inc increased its position in Signature Bank by 2.0% in the 3rd quarter. Vanguard Group Inc now owns 4,726,790 shares of the bank’s stock valued at $542,823,000 after acquiring an additional 94,200 shares in the last quarter. FMR LLC increased its position in Signature Bank by 14.9% in the 4th quarter. FMR LLC now owns 2,463,224 shares of the bank’s stock valued at $253,244,000 after acquiring an additional 319,803 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Signature Bank by 35.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,641,375 shares of the bank’s stock valued at $168,750,000 after acquiring an additional 431,243 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Signature Bank by 3.0% in the 4th quarter. Nordea Investment Management AB now owns 1,212,729 shares of the bank’s stock valued at $124,678,000 after acquiring an additional 35,731 shares in the last quarter. Hedge funds and other institutional investors own 93.43% of the company’s stock.

Several equities research analysts have weighed in on the stock. Wells Fargo & Co raised their price objective on shares of Signature Bank from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. ValuEngine cut shares of Signature Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded shares of Signature Bank from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $133.00 to $150.00 in a research report on Thursday, April 4th. BidaskClub cut shares of Signature Bank from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Finally, Raymond James set a $135.00 price target on shares of Signature Bank and gave the stock a “buy” rating in a research report on Friday, January 18th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $142.75.

NASDAQ SBNY traded down $0.35 during trading on Monday, reaching $134.89. 7,641 shares of the stock traded hands, compared to its average volume of 414,799. The stock has a market cap of $7.26 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.07 and a beta of 1.36. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.97 and a current ratio of 0.98. Signature Bank has a fifty-two week low of $98.54 and a fifty-two week high of $141.25.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, January 17th. The bank reported $2.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.79 by $0.15. The firm had revenue of $340.95 million during the quarter, compared to analysts’ expectations of $331.47 million. Signature Bank had a net margin of 29.17% and a return on equity of 14.70%. During the same quarter in the previous year, the company earned $2.43 earnings per share. Analysts predict that Signature Bank will post 11.45 earnings per share for the current fiscal year.

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Signature Bank Profile

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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