Texas Permanent School Fund Has $1.35 Million Stock Position in Signature Bank (NASDAQ:SBNY)

Texas Permanent School Fund grew its stake in shares of Signature Bank (NASDAQ:SBNYGet Rating) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,904 shares of the bank’s stock after purchasing an additional 593 shares during the quarter. Texas Permanent School Fund’s holdings in Signature Bank were worth $1,345,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SBNY. American Century Companies Inc. increased its holdings in shares of Signature Bank by 10.6% during the 1st quarter. American Century Companies Inc. now owns 6,541 shares of the bank’s stock worth $1,920,000 after acquiring an additional 626 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Signature Bank in the first quarter valued at about $307,000. Panagora Asset Management Inc. grew its stake in shares of Signature Bank by 6.0% in the first quarter. Panagora Asset Management Inc. now owns 1,774 shares of the bank’s stock valued at $521,000 after acquiring an additional 101 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of Signature Bank by 50.0% in the first quarter. APG Asset Management N.V. now owns 2,700 shares of the bank’s stock valued at $712,000 after acquiring an additional 900 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Signature Bank by 5.0% in the first quarter. Great West Life Assurance Co. Can now owns 32,654 shares of the bank’s stock valued at $10,052,000 after acquiring an additional 1,543 shares in the last quarter. 93.62% of the stock is owned by institutional investors and hedge funds.

Signature Bank Stock Performance

Shares of SBNY stock opened at $117.04 on Friday. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 5.72, a price-to-earnings-growth ratio of 0.68 and a beta of 1.65. Signature Bank has a 52 week low of $106.81 and a 52 week high of $374.76. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $125.76 and a 200-day moving average of $157.49.

Signature Bank (NASDAQ:SBNYGet Rating) last announced its quarterly earnings data on Tuesday, October 18th. The bank reported $5.57 EPS for the quarter, topping the consensus estimate of $5.42 by $0.15. The company had revenue of $717.74 million during the quarter, compared to the consensus estimate of $737.63 million. Signature Bank had a net margin of 41.55% and a return on equity of 16.49%. During the same quarter last year, the firm posted $3.88 EPS. On average, equities analysts forecast that Signature Bank will post 21.03 earnings per share for the current year.

Signature Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Friday, October 28th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Thursday, October 27th. Signature Bank’s dividend payout ratio (DPR) is 10.94%.

Analyst Ratings Changes

Several research firms recently commented on SBNY. Compass Point decreased their price target on shares of Signature Bank to $180.00 in a research note on Thursday, October 20th. Jefferies Financial Group cut shares of Signature Bank from a “buy” rating to a “hold” rating in a research report on Monday. Maxim Group cut their price objective on shares of Signature Bank from $350.00 to $250.00 in a research report on Friday, December 9th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Signature Bank from $205.00 to $137.00 in a research report on Wednesday, December 21st. Finally, StockNews.com initiated coverage on shares of Signature Bank in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $190.79.

Signature Bank Company 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.

Read More

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

Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.