Sapience Investments LLC Acquires 6,330 Shares of Signature Bank (SBNY)

Sapience Investments LLC lifted its holdings in shares of Signature Bank (NASDAQ:SBNY) by 34.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,825 shares of the bank’s stock after buying an additional 6,330 shares during the period. Sapience Investments LLC’s holdings in Signature Bank were worth $3,175,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Signature Bank by 7.5% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,700 shares of the bank’s stock valued at $809,000 after buying an additional 400 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Signature Bank by 2.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the bank’s stock valued at $1,854,000 after buying an additional 400 shares during the last quarter. Amalgamated Bank grew its position in shares of Signature Bank by 3.6% during the 1st quarter. Amalgamated Bank now owns 11,581 shares of the bank’s stock valued at $1,644,000 after buying an additional 406 shares during the last quarter. Brinker Capital Inc. grew its position in shares of Signature Bank by 5.3% during the 1st quarter. Brinker Capital Inc. now owns 9,339 shares of the bank’s stock valued at $1,326,000 after buying an additional 472 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Signature Bank by 4.2% during the 1st quarter. Thrivent Financial for Lutherans now owns 12,160 shares of the bank’s stock valued at $1,726,000 after purchasing an additional 485 shares during the period. 95.71% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:SBNY opened at $119.66 on Friday. The company has a market capitalization of $6.44 billion, a PE ratio of 13.43, a P/E/G ratio of 0.97 and a beta of 1.03. Signature Bank has a twelve month low of $108.89 and a twelve month high of $161.92. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 1.22.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, July 19th. The bank reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.03. Signature Bank had a net margin of 26.76% and a return on equity of 13.84%. The company had revenue of $326.63 million during the quarter, compared to analyst estimates of $334.00 million. During the same period in the prior year, the business posted $2.21 EPS. equities analysts forecast that Signature Bank will post 11.18 earnings per share for the current year.

A number of research analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of Signature Bank from $145.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 31st. BMO Capital Markets lowered shares of Signature Bank from an “outperform” rating to a “market perform” rating and set a $171.00 target price for the company. in a research note on Friday, July 20th. JPMorgan Chase & Co. lowered shares of Signature Bank from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $150.00 to $130.00 in a research note on Friday, July 20th. BidaskClub raised shares of Signature Bank from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 20th. Finally, ValuEngine lowered shares of Signature Bank from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $152.40.

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

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