Signature Bank (NASDAQ:SBNY) Now Covered by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Signature Bank (NASDAQ:SBNY) in a research note issued to investors on Thursday. The firm set a “sell” rating on the stock.

Signature Bank Stock Performance

Shares of SBNY opened at $3.40 on Thursday. The company has a 50-day simple moving average of $1.97 and a two-hundred day simple moving average of $1.04. Signature Bank has a one year low of $0.00 and a one year high of $3.45.

Institutional Investors Weigh In On Signature Bank

Several hedge funds have recently made changes to their positions in the company. Harbour Investments Inc. lifted its position in Signature Bank by 42.7% during the fourth quarter. Harbour Investments Inc. now owns 836 shares of the company’s stock valued at $96,000 after buying an additional 250 shares during the period. Canada Pension Plan Investment Board lifted its position in Signature Bank by 197.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 363 shares of the company’s stock valued at $107,000 after acquiring an additional 241 shares during the period. Syntax Advisors LLC bought a new stake in Signature Bank during the fourth quarter worth about $200,000. Meeder Asset Management Inc. boosted its stake in Signature Bank by 864.3% during the fourth quarter. Meeder Asset Management Inc. now owns 1,755 shares of the company’s stock worth $202,000 after acquiring an additional 1,573 shares in the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new stake in Signature Bank in the first quarter worth about $205,000. 11.07% of the stock is currently owned by institutional investors.

Signature Bank Company Profile

As of March 12, 2023, Signature Bank went out of business. Previously, the company provided digital assets banking services and comprised of certain loan portfolios. The company was incorporated in 2000 and is based in New York, New York. Signature Bank now trades on OTCPK.