Signature Bank (SBNY) Holdings Decreased by Elk Creek Partners LLC
Elk Creek Partners LLC decreased its stake in shares of Signature Bank (NASDAQ:SBNY) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,946 shares of the bank’s stock after selling 1,133 shares during the quarter. Elk Creek Partners LLC owned about 0.09% of Signature Bank worth $6,523,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of SBNY. YorkBridge Wealth Partners LLC increased its position 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 last quarter. Pacad Investment Ltd. acquired a new position in shares of Signature Bank during the 2nd quarter worth approximately $100,000. Commonwealth Bank of Australia increased its position in shares of Signature Bank by 5.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,233 shares of the bank’s stock worth $176,000 after purchasing an additional 60 shares during the last quarter. Rockefeller Financial Services Inc. acquired a new position in shares of Signature Bank during the 3rd quarter worth approximately $192,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in shares of 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 worth $202,000 after purchasing an additional 21 shares during the last quarter. 96.33% of the stock is currently owned by hedge funds and other institutional investors.
Signature Bank (SBNY) opened at $136.24 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a market capitalization of $7,313.77, a P/E ratio of 15.55, a P/E/G ratio of 1.75 and a beta of 1.02. Signature Bank has a 1-year low of $116.68 and a 1-year high of $164.23.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $322.22 million. During the same period in the prior year, the firm posted $2.11 EPS. analysts anticipate that Signature Bank will post 7.25 earnings per share for the current fiscal year.
Several research analysts have weighed in on SBNY shares. Morgan Stanley lowered their price target on Signature Bank from $164.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, September 15th. Jefferies Group reaffirmed a “buy” rating and set a $155.00 price target on shares of Signature Bank in a research report on Tuesday, October 24th. Hovde Group raised Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 target price on the stock in a report on Monday, September 11th. BMO Capital Markets raised Signature Bank from a “market perform” rating to an “outperform” rating in a report on Friday, October 20th. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $140.00 target price on shares of Signature Bank in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Signature Bank has a consensus rating of “Buy” and a consensus price target of $155.13.
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Signature Bank 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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