Signature Bank (NASDAQ:SBNY) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Signature Bank (NASDAQ:SBNY) in a report released on Friday. The brokerage set a “sell” rating on the stock.

Signature Bank Trading Up 4.5 %

Shares of SBNY stock opened at $3.45 on Friday. The business’s 50 day simple moving average is $2.23 and its 200 day simple moving average is $1.17. Signature Bank has a one year low of $0.00 and a one year high of $3.60.

Hedge Funds Weigh In On Signature Bank

Several hedge funds and other institutional investors have recently bought and sold shares of SBNY. Harbour Investments Inc. grew its holdings in Signature Bank by 42.7% during the 4th quarter. Harbour Investments Inc. now owns 836 shares of the company’s stock worth $96,000 after acquiring an additional 250 shares during the period. Canada Pension Plan Investment Board lifted its stake in Signature Bank by 197.5% in the first quarter. Canada Pension Plan Investment Board now owns 363 shares of the company’s stock valued at $107,000 after buying an additional 241 shares during the period. Syntax Advisors LLC bought a new position in shares of Signature Bank during the 4th quarter worth approximately $200,000. Meeder Asset Management Inc. grew its position in shares of Signature Bank by 864.3% during the 4th quarter. Meeder Asset Management Inc. now owns 1,755 shares of the company’s stock worth $202,000 after buying an additional 1,573 shares during the period. Finally, Beacon Pointe Advisors LLC bought a new stake in shares of Signature Bank in the 1st quarter valued at $205,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.