Signature Bank (SBNY) Shares Bought by A.R.T. Advisors LLC
A.R.T. Advisors LLC increased its stake in shares of Signature Bank (NASDAQ:SBNY) by 368.8% during the fourth quarter, Holdings Channel reports. The firm owned 22,500 shares of the company’s stock after buying an additional 17,700 shares during the period. A.R.T. Advisors LLC’s holdings in Signature Bank were worth $3,379,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBNY. CI Global Investments Inc. boosted its position in Signature Bank by 331.5% in the second quarter. CI Global Investments Inc. now owns 1,186,987 shares of the company’s stock valued at $148,278,000 after buying an additional 911,927 shares during the period. Allianz Asset Management AG boosted its position in Signature Bank by 4,472.6% in the fourth quarter. Allianz Asset Management AG now owns 615,653 shares of the company’s stock valued at $92,471,000 after buying an additional 602,189 shares during the period. Conatus Capital Management LP boosted its position in Signature Bank by 65.1% in the second quarter. Conatus Capital Management LP now owns 840,825 shares of the company’s stock valued at $105,036,000 after buying an additional 331,645 shares during the period. JPMorgan Chase & Co. boosted its position in Signature Bank by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 2,010,459 shares of the company’s stock valued at $238,140,000 after buying an additional 291,889 shares during the period. Finally, Handelsbanken Fonder AB bought a new position in Signature Bank during the fourth quarter valued at $37,250,000. Institutional investors own 89.89% of the company’s stock.
Shares of Signature Bank (NASDAQ:SBNY) traded up 0.64% on Thursday, reaching $160.97. 246,208 shares of the company traded hands. The firm has a 50-day moving average price of $154.74 and a 200 day moving average price of $134.96. The company has a market capitalization of $8.64 billion, a PE ratio of 21.84 and a beta of 0.94. Signature Bank has a one year low of $113.53 and a one year high of $164.23.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Thursday, January 19th. The company reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.02. Signature Bank had a net margin of 29.14% and a return on equity of 12.36%. During the same quarter last year, the business posted $2.01 earnings per share. Equities analysts forecast that Signature Bank will post $9.16 EPS for the current fiscal year.
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Several research analysts have recently weighed in on SBNY shares. Deutsche Bank AG reiterated a “buy” rating and issued a $181.00 price target on shares of Signature Bank in a report on Tuesday, January 24th. BMO Capital Markets cut shares of Signature Bank from an “outperform” rating to a “market perform” rating and set a $128.00 price target for the company. in a report on Friday, October 21st. Barclays PLC upped their price target on shares of Signature Bank from $163.00 to $173.00 and gave the company an “overweight” rating in a report on Friday, January 20th. FBR & Co reduced their price target on shares of Signature Bank from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Friday, October 21st. Finally, Hovde Group cut shares of Signature Bank from a “market perform” rating to an “underperform” rating in a report on Monday, November 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $154.93.
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.
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