Deutsche Bank AG Reduces Holdings in Signature Bank (NASDAQ:SBNY)

Deutsche Bank AG trimmed its position in shares of Signature Bank (NASDAQ:SBNY) by 11.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,396 shares of the bank’s stock after selling 1,166 shares during the quarter. Deutsche Bank AG’s holdings in Signature Bank were worth $2,307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bessemer Group Inc. bought a new stake in shares of Signature Bank in the first quarter valued at about $25,000. Geneos Wealth Management Inc. acquired a new position in shares of Signature Bank during the first quarter valued at about $38,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Signature Bank by 111.7% during the second quarter. O Shaughnessy Asset Management LLC now owns 163 shares of the bank’s stock valued at $40,000 after acquiring an additional 86 shares in the last quarter. Tradition Wealth Management LLC purchased a new stake in Signature Bank in the second quarter valued at approximately $49,000. Finally, Eagle Bay Advisors LLC purchased a new stake in Signature Bank in the second quarter valued at approximately $68,000.

Several equities research analysts have commented on SBNY shares. Credit Suisse Group upped their price objective on Signature Bank from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Thursday, July 22nd. Wedbush upped their target price on Signature Bank from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, June 17th. UBS Group reaffirmed a “buy” rating on shares of Signature Bank in a research note on Friday, July 9th. Stephens increased their price objective on Signature Bank from $280.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, June 17th. Finally, Jefferies Financial Group assumed coverage on Signature Bank in a research note on Friday, September 10th. They issued a “buy” rating and a $305.00 price objective for the company. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $291.00.

SBNY opened at $297.88 on Thursday. The firm has a market cap of $15.96 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 1.95 and a beta of 2.02. Signature Bank has a 52 week low of $71.44 and a 52 week high of $307.50. The business’s 50 day moving average is $264.50 and its two-hundred day moving average is $249.31. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

Signature Bank (NASDAQ:SBNY) last announced its earnings results on Monday, July 19th. The bank reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.44. Signature Bank had a return on equity of 11.80% and a net margin of 34.08%. The company had revenue of $480.59 million for the quarter, compared to the consensus estimate of $467.43 million. During the same period last year, the business posted $2.21 EPS. Equities analysts expect that Signature Bank will post 14.21 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Friday, July 30th were paid a $0.56 dividend. The ex-dividend date was Thursday, July 29th. This represents a $2.24 annualized dividend and a dividend yield of 0.75%. Signature Bank’s dividend payout ratio (DPR) is currently 22.49%.

Signature Bank Company Profile

Signature Bank engages in the provision of commercial banking services. It operates through the Commercial Banking and Specialty Finance segments. The Commercial Banking segment comprises of commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities.

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Institutional Ownership by Quarter for Signature Bank (NASDAQ:SBNY)

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