New York State Teachers Retirement System trimmed its holdings in shares of Signature Bank (NASDAQ:SBNY) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,746 shares of the bank’s stock after selling 1,300 shares during the quarter. New York State Teachers Retirement System owned 0.16% of Signature Bank worth $8,816,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in SBNY. Paradigm Asset Management Co. LLC bought a new position in shares of Signature Bank during the third quarter valued at approximately $115,000. Cerebellum GP LLC grew its holdings in shares of Signature Bank by 1,408.6% during the third quarter. Cerebellum GP LLC now owns 1,584 shares of the bank’s stock valued at $182,000 after purchasing an additional 1,479 shares during the last quarter. MML Investors Services LLC bought a new position in shares of Signature Bank during the third quarter valued at approximately $203,000. Lavaca Capital LLC bought a new position in shares of Signature Bank during the fourth quarter valued at approximately $199,000. Finally, Landsberg Bennett & Dubbaneh LLC bought a new position in shares of Signature Bank during the fourth quarter valued at approximately $201,000. 94.24% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on SBNY. BidaskClub lowered Signature Bank from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. BMO Capital Markets lowered their target price on Signature Bank from $138.00 to $132.00 and set a “market perform” rating for the company in a report on Friday, October 19th. ValuEngine raised Signature Bank from a “strong sell” rating to a “sell” rating in a report on Thursday, October 18th. Hovde Group downgraded Signature Bank from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 2nd. Finally, UBS Group upgraded Signature Bank from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $122.00 to $138.00 in a research report on Monday, November 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. Signature Bank has an average rating of “Buy” and a consensus price target of $139.90.
Shares of NASDAQ:SBNY opened at $131.19 on Wednesday. Signature Bank has a one year low of $98.54 and a one year high of $158.80. The firm has a market cap of $7.19 billion, a PE ratio of 11.63, a P/E/G ratio of 1.06 and a beta of 1.37. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.98 and a quick ratio of 0.97.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Thursday, January 17th. The bank reported $2.94 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.15. Signature Bank had a return on equity of 14.70% and a net margin of 29.17%. The company had revenue of $340.95 million during the quarter, compared to the consensus estimate of $331.47 million. During the same quarter in the prior year, the firm earned $2.43 EPS. On average, equities research analysts expect that Signature Bank will post 11.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Friday, February 1st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.71%. Signature Bank’s dividend payout ratio (DPR) is presently 19.86%.
About Signature Bank
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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