Tokio Marine Asset Management Co. Ltd. decreased its stake in shares of Signature Bank (NASDAQ:SBNY) by 20.8% during the first quarter, Holdings Channel reports. The firm owned 36,200 shares of the bank’s stock after selling 9,500 shares during the period. Tokio Marine Asset Management Co. Ltd. owned about 0.07% of Signature Bank worth $5,372,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of SBNY. Norges Bank acquired a new position in Signature Bank during the fourth quarter valued at about $106,569,000. Allianz Asset Management AG boosted its position in Signature Bank by 4,472.6% in the fourth quarter. Allianz Asset Management AG now owns 615,653 shares of the bank’s stock valued at $92,471,000 after buying an additional 602,189 shares during the period. Congress Asset Management Co. MA acquired a new position in Signature Bank during the fourth quarter valued at about $57,903,000. Alecta Pensionsforsakring Omsesidigt boosted its position in Signature Bank by 14.9% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,172,428 shares of the bank’s stock valued at $322,367,000 after buying an additional 281,228 shares during the period. Finally, Nordea Investment Management AB boosted its position in Signature Bank by 1,668.6% in the first quarter. Nordea Investment Management AB now owns 268,964 shares of the bank’s stock valued at $39,912,000 after buying an additional 253,756 shares during the period. 89.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Signature Bank (NASDAQ:SBNY) traded up 0.01% during midday trading on Friday, reaching $139.27. The company had a trading volume of 404,096 shares. Signature Bank has a 1-year low of $113.53 and a 1-year high of $164.23. The firm’s 50 day moving average price is $140.35 and its 200-day moving average price is $148.27. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 17.67 and a beta of 0.94.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Wednesday, April 19th. The bank reported $2.15 EPS for the quarter, topping the consensus estimate of $2.10 by $0.05. The company had revenue of $311.63 million for the quarter, compared to the consensus estimate of $311.70 million. Signature Bank had a return on equity of 12.36% and a net margin of 29.14%. During the same period last year, the business posted $1.97 EPS. Equities research analysts expect that Signature Bank will post $9.47 EPS for the current fiscal year.
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SBNY has been the topic of several research analyst reports. Deutsche Bank AG reduced their target price on Signature Bank from $181.00 to $178.00 and set a “buy” rating on the stock in a research note on Friday, March 24th. BMO Capital Markets reissued a “hold” rating and set a $170.00 target price on shares of Signature Bank in a research note on Wednesday, March 22nd. Raymond James Financial, Inc. reissued an “outperform” rating and set a $183.00 target price (up from $167.00) on shares of Signature Bank in a research note on Thursday, April 6th. Jefferies Group LLC reissued a “buy” rating and set a $175.00 target price on shares of Signature Bank in a research note on Tuesday, April 11th. Finally, Barclays PLC boosted their target price on Signature Bank from $163.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. Signature Bank presently has a consensus rating of “Buy” and an average target price of $169.30.
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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