Metropolitan Life Insurance Co. NY lowered its position in Signature Bank (NASDAQ:SBNY) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,254 shares of the bank’s stock after selling 129 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Signature Bank were worth $7,606,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Tudor Investment Corp Et Al increased its stake in shares of Signature Bank by 10.7% in the fourth quarter. Tudor Investment Corp Et Al now owns 2,404 shares of the bank’s stock worth $361,000 after buying an additional 232 shares during the period. GLG LLC increased its stake in shares of Signature Bank by 6.8% in the fourth quarter. GLG LLC now owns 2,947 shares of the bank’s stock worth $443,000 after buying an additional 187 shares during the period. First Republic Investment Management Inc. increased its stake in shares of Signature Bank by 11.1% in the fourth quarter. First Republic Investment Management Inc. now owns 3,135 shares of the bank’s stock worth $470,000 after buying an additional 314 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Signature Bank during the fourth quarter worth about $1,148,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Signature Bank by 23.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 14,466 shares of the bank’s stock worth $2,169,000 after buying an additional 2,792 shares during the period. 96.37% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Signature Bank (NASDAQ SBNY) traded down 2.27% during midday trading on Wednesday, hitting $136.91. 284,680 shares of the stock were exchanged. The firm has a 50-day moving average price of $142.79 and a 200 day moving average price of $149.12. The firm has a market cap of $7.40 billion, a PE ratio of 17.37 and a beta of 0.93. Signature Bank has a 12-month low of $113.53 and a 12-month high of $164.23.

Signature Bank (NASDAQ:SBNY) last released its quarterly earnings results on Wednesday, April 19th. The bank reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.05. Signature Bank had a return on equity of 12.37% and a net margin of 30.53%. The business had revenue of $311.63 million during the quarter, compared to the consensus estimate of $311.70 million. During the same quarter in the previous year, the company posted $1.97 EPS. Analysts predict that Signature Bank will post $9.41 earnings per share for the current fiscal year.

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A number of equities analysts have weighed in on SBNY shares. BidaskClub upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods set a $164.00 price objective on shares of Signature Bank and gave the stock a “buy” rating in a research report on Monday, April 3rd. ValuEngine cut shares of Signature Bank from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Morgan Stanley upped their price objective on shares of Signature Bank from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Finally, BMO Capital Markets restated a “hold” rating and set a $170.00 price objective on shares of Signature Bank in a research report on Wednesday, March 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $168.92.

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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