Gilder Gagnon Howe & Co. LLC Sells 912 Shares of Signature Bank (SBNY)
Gilder Gagnon Howe & Co. LLC decreased its stake in shares of Signature Bank (NASDAQ:SBNY) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,935 shares of the bank’s stock after selling 912 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Signature Bank were worth $3,148,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in SBNY. Steward Partners Investment Advisory LLC purchased a new position in Signature Bank during the third quarter worth $115,000. Zions Bancorporation purchased a new position in Signature Bank during the third quarter worth $152,000. Rockefeller Financial Services Inc. purchased a new position in Signature Bank during the third quarter worth $192,000. WINTON GROUP Ltd purchased a new position in Signature Bank during the third quarter worth $210,000. Finally, IFG Advisory LLC purchased a new position in Signature Bank during the fourth quarter worth $216,000. 96.40% of the stock is owned by institutional investors.
Several equities analysts have weighed in on SBNY shares. Barclays set a $145.00 price target on Signature Bank and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Piper Jaffray Companies reissued a “neutral” rating and set a $140.00 price target on shares of Signature Bank in a research report on Friday, October 13th. BMO Capital Markets raised Signature Bank from a “market perform” rating to an “outperform” rating in a research report on Friday, October 20th. Jefferies Group reissued a “buy” rating and set a $155.00 price target on shares of Signature Bank in a research report on Tuesday, October 24th. Finally, Morgan Stanley downgraded Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 price target for the company. in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. Signature Bank presently has an average rating of “Buy” and a consensus price target of $158.56.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.20. The business had revenue of $328.27 million during the quarter, compared to the consensus estimate of $321.86 million. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. During the same quarter in the previous year, the business earned $2.11 earnings per share. analysts expect that Signature Bank will post 11.13 EPS for the current year.
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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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