Mutual of America Capital Management LLC boosted its position in Signature Bank (NASDAQ:SBNY – Get Rating) by 4.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 14,736 shares of the bank’s stock after purchasing an additional 578 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Signature Bank were worth $4,325,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Atria Investments LLC lifted its stake in Signature Bank by 1.0% in the 1st quarter. Atria Investments LLC now owns 5,111 shares of the bank’s stock worth $1,500,000 after purchasing an additional 51 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Signature Bank by 125.1% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 53,117 shares of the bank’s stock worth $15,589,000 after purchasing an additional 29,524 shares in the last quarter. Regentatlantic Capital LLC purchased a new stake in Signature Bank in the 1st quarter worth approximately $285,000. Whittier Trust Co. lifted its stake in Signature Bank by 9.1% in the 1st quarter. Whittier Trust Co. now owns 16,040 shares of the bank’s stock worth $4,707,000 after purchasing an additional 1,332 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Signature Bank by 49.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 9,886 shares of the bank’s stock valued at $2,901,000 after buying an additional 3,269 shares in the last quarter. 96.17% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on SBNY. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Signature Bank in a research report on Wednesday, July 20th. Morgan Stanley lowered their price objective on shares of Signature Bank from $262.00 to $247.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Compass Point lowered their price objective on shares of Signature Bank from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, June 10th. TheStreet cut shares of Signature Bank from a “b” rating to a “c+” rating in a research report on Wednesday, July 13th. Finally, Piper Sandler lowered their price objective on shares of Signature Bank from $375.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, May 20th. One equities research analyst has rated the stock with a sell rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $300.31.
Signature Bank Price Performance
Shares of Signature Bank stock opened at $181.42 on Tuesday. The firm has a market cap of $11.00 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 0.84 and a beta of 1.80. Signature Bank has a 12-month low of $165.36 and a 12-month high of $374.76. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. The company’s fifty day simple moving average is $192.57 and its two-hundred day simple moving average is $261.58.
Signature Bank (NASDAQ:SBNY – Get Rating) last announced its quarterly earnings results on Tuesday, July 19th. The bank reported $5.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.21. Signature Bank had a net margin of 43.86% and a return on equity of 15.02%. During the same period last year, the firm posted $3.57 EPS. As a group, equities analysts expect that Signature Bank will post 22.03 EPS for the current year.
Signature Bank Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, July 28th. Signature Bank’s dividend payout ratio (DPR) is presently 11.93%.
About Signature Bank
Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The company provides various lending products comprising commercial and industrial loans, real estate loans, and letters of credit.
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