Tdam USA Inc. Takes Position in Signature Bank (SBNY)
Tdam USA Inc. bought a new position in shares of Signature Bank (NASDAQ:SBNY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,262 shares of the bank’s stock, valued at approximately $612,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBNY. Quantbot Technologies LP bought a new stake in shares of Signature Bank during the first quarter worth about $127,000. Israel Discount Bank of New York bought a new stake in shares of Signature Bank during the first quarter worth about $148,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of Signature Bank by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,440 shares of the bank’s stock worth $200,000 after buying an additional 65 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of Signature Bank during the first quarter worth about $204,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Signature Bank during the first quarter worth about $219,000. Institutional investors own 97.32% of the company’s stock.
Shares of Signature Bank (NASDAQ:SBNY) opened at 133.66 on Thursday. Signature Bank has a 12-month low of $113.53 and a 12-month high of $164.23. The company has a market capitalization of $7.23 billion, a P/E ratio of 21.41 and a beta of 0.95. The stock has a 50 day moving average of $138.38 and a 200-day moving average of $146.04.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $324.44 million. During the same quarter in the previous year, the business posted $1.90 earnings per share. Equities research analysts forecast that Signature Bank will post $7.23 EPS for the current year.
A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $158.00 price target on shares of Signature Bank in a report on Friday, July 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $175.00 price target on shares of Signature Bank in a report on Thursday, May 25th. BMO Capital Markets reiterated a “hold” rating and issued a $157.00 price target on shares of Signature Bank in a report on Thursday, July 20th. Morgan Stanley lifted their price target on shares of Signature Bank from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, June 6th. Finally, BidaskClub upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Sunday, July 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $167.85.
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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