Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 784 Shares of Signature Bank (NASDAQ:SBNY)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Signature Bank (NASDAQ:SBNYGet Rating) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,941 shares of the bank’s stock after acquiring an additional 784 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Signature Bank were worth $2,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in shares of Signature Bank by 53.1% during the fourth quarter. State Street Corp now owns 3,034,921 shares of the bank’s stock valued at $981,706,000 after buying an additional 1,052,338 shares during the last quarter. EAM Global Investors LLC boosted its position in shares of Signature Bank by 98.4% during the fourth quarter. EAM Global Investors LLC now owns 9,680 shares of the bank’s stock valued at $3,131,000 after buying an additional 4,802 shares during the last quarter. Metis Global Partners LLC purchased a new position in shares of Signature Bank during the first quarter valued at approximately $282,000. Envestnet Asset Management Inc. boosted its position in shares of Signature Bank by 20.9% during the first quarter. Envestnet Asset Management Inc. now owns 70,646 shares of the bank’s stock valued at $20,734,000 after buying an additional 12,193 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of Signature Bank by 5.4% during the fourth quarter. Nuveen Asset Management LLC now owns 335,734 shares of the bank’s stock valued at $108,600,000 after buying an additional 17,201 shares during the last quarter. Institutional investors own 98.62% of the company’s stock.

Analyst Upgrades and Downgrades

SBNY has been the topic of several analyst reports. Maxim Group cut their target price on Signature Bank from $450.00 to $425.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. Piper Sandler cut their price objective on Signature Bank from $375.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, May 20th. Jefferies Financial Group cut their price objective on Signature Bank from $352.00 to $267.00 in a research report on Monday, July 11th. Raymond James cut their price objective on Signature Bank from $305.00 to $286.00 in a research report on Wednesday, July 20th. Finally, StockNews.com raised Signature Bank from a “sell” rating to a “hold” rating in a research report on Monday, August 15th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Signature Bank has a consensus rating of “Buy” and a consensus target price of $287.15.

Signature Bank Trading Up 4.2 %

NASDAQ SBNY opened at $175.38 on Thursday. Signature Bank has a fifty-two week low of $165.36 and a fifty-two week high of $374.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50 day simple moving average of $186.42 and a two-hundred day simple moving average of $229.71. The stock has a market cap of $10.63 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 0.81 and a beta of 1.72.

Signature Bank (NASDAQ:SBNYGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The bank reported $5.26 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.21. Signature Bank had a return on equity of 15.02% and a net margin of 43.86%. During the same quarter last year, the firm posted $3.57 earnings per share. On average, analysts forecast that Signature Bank will post 21.77 earnings per share for the current year.

Signature Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were paid a $0.56 dividend. The ex-dividend date was Thursday, July 28th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.28%. Signature Bank’s dividend payout ratio (DPR) is currently 11.93%.

Signature Bank Profile

(Get Rating)

Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The company provides various lending products comprising commercial and industrial loans, real estate loans, and letters of credit.

Further Reading

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

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