State Board of Administration of Florida Retirement System raised its position in shares of Signature Bank (NASDAQ:SBNY) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,746 shares of the bank’s stock after purchasing an additional 1,290 shares during the period. State Board of Administration of Florida Retirement System owned about 0.15% of Signature Bank worth $10,595,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SBNY. Teachers Advisors LLC raised its position in Signature Bank by 48.3% during the 1st quarter. Teachers Advisors LLC now owns 83,925 shares of the bank’s stock valued at $12,454,000 after purchasing an additional 27,334 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Signature Bank by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 267,027 shares of the bank’s stock valued at $39,626,000 after purchasing an additional 5,077 shares in the last quarter. KCG Holdings Inc. raised its position in Signature Bank by 22.4% during the 1st quarter. KCG Holdings Inc. now owns 2,215 shares of the bank’s stock valued at $329,000 after purchasing an additional 406 shares in the last quarter. Tudor Investment Corp ET AL raised its position in Signature Bank by 0.6% during the 1st quarter. Tudor Investment Corp ET AL now owns 2,418 shares of the bank’s stock valued at $359,000 after purchasing an additional 14 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in Signature Bank by 0.7% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 6,120 shares of the bank’s stock valued at $909,000 after purchasing an additional 40 shares in the last quarter. 96.25% of the stock is owned by institutional investors and hedge funds.
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A number of brokerages have weighed in on SBNY. Morgan Stanley lowered Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 target price for the company. in a research report on Monday, November 6th. BidaskClub downgraded Signature Bank from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. FIG Partners reiterated an “outperform” rating and issued a $150.00 price target on shares of Signature Bank in a report on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $142.00 price target on shares of Signature Bank in a report on Tuesday, October 3rd. Finally, Barclays PLC set a $145.00 price target on Signature Bank and gave the company a “buy” rating in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $154.80.
Signature Bank (SBNY) opened at $124.93 on Friday. The stock has a market capitalization of $6,706.62, a PE ratio of 14.26, a PEG ratio of 1.60 and a beta of 1.01. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.71. Signature Bank has a fifty-two week low of $116.68 and a fifty-two week high of $164.23.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $2.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.10. The business had revenue of $316.94 million during the quarter, compared to analysts’ expectations of $322.22 million. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. During the same quarter in the previous year, the firm posted $2.11 EPS. sell-side analysts expect that Signature Bank will post 7.25 earnings per share 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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