GAM Holding AG continued to hold its position in Signature Bank (NASDAQ:SBNY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,275 shares of the bank’s stock at the end of the 2nd quarter. GAM Holding AG’s holdings in Signature Bank were worth $327,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Tudor Investment Corp ET AL grew its holdings in shares of Signature Bank by 0.6% during the first quarter. Tudor Investment Corp ET AL now owns 2,418 shares of the bank’s stock valued at $359,000 after buying an additional 14 shares during the last quarter. Cadence Capital Management LLC boosted its holdings in Signature Bank by 1.1% in the second quarter. Cadence Capital Management LLC now owns 2,118 shares of the bank’s stock worth $304,000 after purchasing an additional 23 shares during the last quarter. Boston Private Wealth LLC boosted its holdings in Signature Bank by 0.3% in the second quarter. Boston Private Wealth LLC now owns 7,568 shares of the bank’s stock worth $1,086,000 after purchasing an additional 25 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Signature Bank by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 6,120 shares of the bank’s stock worth $909,000 after purchasing an additional 40 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in Signature Bank by 1.5% in the second quarter. IFP Advisors Inc now owns 3,128 shares of the bank’s stock worth $449,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.
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Several equities research analysts recently issued reports on the stock. Bank of America Corporation restated a “buy” rating and issued a $165.00 target price (down previously from $175.00) on shares of Signature Bank in a report on Wednesday. Wedbush cut shares of Signature Bank from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $157.00 to $126.00 in a report on Wednesday. Morgan Stanley decreased their price target on shares of Signature Bank from $164.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, September 15th. Hovde Group upgraded shares of Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 price target on the stock in a research report on Monday, September 11th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $145.00 price target (down from $169.00) on shares of Signature Bank in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $158.93.
Signature Bank (SBNY) opened at 121.74 on Friday. Signature Bank has a 52 week low of $113.53 and a 52 week high of $164.23. The stock has a market capitalization of $6.59 billion, a PE ratio of 19.50 and a beta of 0.97. The firm has a 50 day moving average of $128.78 and a 200-day moving average of $139.56.
Signature Bank (NASDAQ:SBNY) last issued its earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.01). Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. The firm had revenue of $316.79 million for the quarter, compared to analysts’ expectations of $324.44 million. During the same quarter in the previous year, the firm posted $1.90 EPS. On average, equities analysts predict that Signature Bank will post $7.21 EPS for the current year.
About Signature Bank
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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