Signature Bank (SBNY) Shares Sold by Intrust Bank NA
Intrust Bank NA cut its holdings in shares of Signature Bank (NASDAQ:SBNY) by 34.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,843 shares of the bank’s stock after selling 964 shares during the quarter. Intrust Bank NA’s holdings in Signature Bank were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC grew its holdings in shares of Signature Bank by 6.3% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after purchasing an additional 41 shares during the period. Pacad Investment Ltd. purchased a new position in shares of Signature Bank during the 2nd quarter worth $100,000. Commonwealth Bank of Australia boosted its holdings in Signature Bank by 5.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock valued at $176,000 after acquiring an additional 60 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in Signature Bank by 1.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock valued at $202,000 after acquiring an additional 21 shares during the period. Finally, Rockefeller Financial Services Inc. purchased a new position in Signature Bank during the 3rd quarter valued at about $192,000. Institutional investors and hedge funds own 97.93% of the company’s stock.
Signature Bank (SBNY) traded up $3.83 during trading on Wednesday, hitting $131.02. The company had a trading volume of 538,900 shares, compared to its average volume of 488,181. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.92. Signature Bank has a 12-month low of $116.68 and a 12-month high of $164.23. The stock has a market capitalization of $6,827.94, a P/E ratio of 14.52, a PEG ratio of 1.63 and a beta of 1.01.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.10. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. The firm had revenue of $316.94 million during the quarter, compared to analysts’ expectations of $322.22 million. During the same period in the previous year, the firm posted $2.11 earnings per share. research analysts expect that Signature Bank will post 7.25 EPS for the current fiscal year.
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A number of equities analysts recently commented on the company. Morgan Stanley cut Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 target price for the company. in a report on Monday, November 6th. Jefferies Group LLC restated a “buy” rating and set a $155.00 target price on shares of Signature Bank in a report on Tuesday, October 24th. Barclays PLC set a $140.00 price target on Signature Bank and gave the company a “buy” rating in a research report on Friday, October 20th. BMO Capital Markets raised Signature Bank from a “market perform” rating to an “outperform” rating in a research report on Friday, October 20th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $140.00 price target on shares of Signature Bank in a research report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $154.80.
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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