Stevens Capital Management LP bought a new stake in shares of Signature Bank (NASDAQ:SBNY) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 5,529 shares of the bank’s stock, valued at approximately $708,000.
Several other institutional investors also recently added to or reduced their stakes in the stock. Somerset Trust Co raised its holdings in Signature Bank by 153.6% during the first quarter. Somerset Trust Co now owns 213 shares of the bank’s stock worth $27,000 after buying an additional 129 shares during the last quarter. Pearl River Capital LLC acquired a new position in Signature Bank during the first quarter worth $44,000. Fort L.P. acquired a new position in Signature Bank during the fourth quarter worth $60,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Signature Bank during the first quarter worth $81,000. Finally, Enlightenment Research LLC acquired a new position in Signature Bank during the fourth quarter worth $93,000. Institutional investors own 94.60% of the company’s stock.
Several research analysts have weighed in on the stock. ValuEngine upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. BidaskClub upgraded shares of Signature Bank from a “sell” rating to a “hold” rating in a report on Saturday, April 13th. Wells Fargo & Co upped their price objective on shares of Signature Bank from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. JPMorgan Chase & Co. upgraded shares of Signature Bank from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $133.00 to $150.00 in a report on Thursday, April 4th. Finally, Raymond James lowered their price objective on shares of Signature Bank from $146.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $144.00.
Shares of SBNY stock traded up $3.25 on Friday, hitting $118.55. The stock had a trading volume of 9,466 shares, compared to its average volume of 410,795. The company has a market cap of $6.50 billion, a P/E ratio of 10.26, a P/E/G ratio of 0.99 and a beta of 1.36. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.99 and a quick ratio of 0.99. Signature Bank has a 12-month low of $98.54 and a 12-month high of $137.93.
Signature Bank (NASDAQ:SBNY) last announced its earnings results on Wednesday, April 17th. The bank reported $2.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.76 by ($0.11). The firm had revenue of $325.08 million during the quarter, compared to analysts’ expectations of $332.35 million. Signature Bank had a net margin of 34.17% and a return on equity of 14.15%. During the same quarter in the prior year, the company earned $2.69 EPS. As a group, research analysts expect that Signature Bank will post 11.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.56 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $2.24 annualized dividend and a dividend yield of 1.89%. Signature Bank’s dividend payout ratio is currently 19.86%.
Signature Bank Company Profile
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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