Signature Bank (NASDAQ:SBNY) Shares Acquired by BlackRock Inc.
BlackRock Inc. raised its stake in shares of Signature Bank (NASDAQ:SBNY) by 0.4% in the second quarter, Holdings Channel.com reports. The fund owned 5,312,628 shares of the bank’s stock after purchasing an additional 20,404 shares during the period. BlackRock Inc. owned approximately 0.10% of Signature Bank worth $641,980,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Machina Capital S.A.S. increased its position in shares of Signature Bank by 362.6% during the second quarter. Machina Capital S.A.S. now owns 458 shares of the bank’s stock valued at $55,000 after acquiring an additional 359 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Signature Bank during the second quarter valued at about $57,000. FTB Advisors Inc. increased its position in shares of Signature Bank by 242.4% during the second quarter. FTB Advisors Inc. now owns 493 shares of the bank’s stock valued at $59,000 after acquiring an additional 349 shares during the last quarter. Pinebridge Investments L.P. acquired a new stake in shares of Signature Bank during the second quarter valued at about $73,000. Finally, Commonwealth Bank of Australia increased its position in shares of Signature Bank by 21.9% during the second quarter. Commonwealth Bank of Australia now owns 728 shares of the bank’s stock valued at $87,000 after acquiring an additional 131 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Morgan Stanley dropped their price target on shares of Signature Bank from $145.00 to $143.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Wells Fargo & Co dropped their price target on shares of Signature Bank from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. ValuEngine cut shares of Signature Bank from a “sell” rating to a “strong sell” rating in a research report on Sunday, November 3rd. BidaskClub upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, JPMorgan Chase & Co. set a $138.00 price target on shares of Signature Bank and gave the company a “buy” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $137.00.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.05. The business had revenue of $334.00 million during the quarter, compared to the consensus estimate of $339.14 million. Signature Bank had a net margin of 31.37% and a return on equity of 13.09%. During the same quarter in the previous year, the firm earned $2.84 EPS. On average, research analysts forecast that Signature Bank will post 10.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.78%. Signature Bank’s dividend payout ratio is presently 19.86%.
About Signature Bank
Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.
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