Brinker Capital Inc. raised its position in shares of Signature Bank (NASDAQ:SBNY) by 9.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,144 shares of the bank’s stock after purchasing an additional 888 shares during the quarter. Brinker Capital Inc.’s holdings in Signature Bank were worth $1,299,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Signature Bank by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 701,299 shares of the bank’s stock worth $80,537,000 after purchasing an additional 12,060 shares during the period. JPMorgan Chase & Co. grew its position in Signature Bank by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 411,488 shares of the bank’s stock worth $47,256,000 after buying an additional 32,975 shares in the last quarter. Putnam Investments LLC acquired a new stake in Signature Bank during the third quarter worth about $479,000. Thrivent Financial for Lutherans grew its position in Signature Bank by 5.9% during the third quarter. Thrivent Financial for Lutherans now owns 12,948 shares of the bank’s stock worth $1,487,000 after buying an additional 717 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Signature Bank by 48.6% during the third quarter. AQR Capital Management LLC now owns 166,589 shares of the bank’s stock worth $19,131,000 after buying an additional 54,462 shares in the last quarter. 93.41% of the stock is owned by institutional investors and hedge funds.
NASDAQ:SBNY opened at $132.73 on Monday. Signature Bank has a 1 year low of $98.54 and a 1 year high of $137.93. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $7.30 billion, a PE ratio of 11.77, a PEG ratio of 1.12 and a beta of 1.36.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Tuesday, April 30th. Signature Bank’s dividend payout ratio (DPR) is currently 19.86%.
A number of equities research analysts recently weighed in on the company. Raymond James decreased their target price on Signature Bank from $146.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Wells Fargo & Co lifted their price objective on Signature Bank from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, March 15th. ValuEngine downgraded Signature Bank from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. raised Signature Bank from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $133.00 to $150.00 in a report on Thursday, April 4th. Finally, BidaskClub downgraded Signature Bank from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $141.89.
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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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