Signature Bank (NASDAQ:SBNY) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in shares of Signature Bank (NASDAQ:SBNYGet Rating) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,999 shares of the bank’s stock after selling 768 shares during the quarter. Amalgamated Bank’s holdings in Signature Bank were worth $5,870,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SBNY. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Signature Bank by 1.1% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,893 shares of the bank’s stock valued at $1,143,000 after purchasing an additional 43 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Signature Bank by 28.7% in the 1st quarter. Allworth Financial LP now owns 193 shares of the bank’s stock valued at $57,000 after acquiring an additional 43 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Signature Bank by 0.6% in the 1st quarter. State of Alaska Department of Revenue now owns 8,827 shares of the bank’s stock valued at $2,590,000 after purchasing an additional 50 shares during the period. Atria Investments LLC boosted its position in shares of Signature Bank by 1.0% in the 1st quarter. Atria Investments LLC now owns 5,111 shares of the bank’s stock valued at $1,500,000 after purchasing an additional 51 shares during the period. Finally, Kestra Advisory Services LLC boosted its position in shares of Signature Bank by 4.9% in the 1st quarter. Kestra Advisory Services LLC now owns 1,231 shares of the bank’s stock valued at $361,000 after purchasing an additional 58 shares during the period. 98.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SBNY has been the subject of a number of research analyst reports. Raymond James decreased their target price on Signature Bank from $305.00 to $286.00 in a research report on Wednesday, July 20th. StockNews.com raised Signature Bank from a “sell” rating to a “hold” rating in a research note on Monday, August 15th. Maxim Group lowered their price objective on Signature Bank from $450.00 to $425.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. UBS Group lowered their price objective on Signature Bank from $309.00 to $288.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. reduced their target price on Signature Bank from $460.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. One 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 stock. Based on data from MarketBeat.com, Signature Bank presently has an average rating of “Buy” and a consensus price target of $282.38.

Signature Bank Stock Performance

Shares of NASDAQ SBNY opened at $171.91 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $185.40 and a 200-day simple moving average of $220.61. The company has a market cap of $10.42 billion, a PE ratio of 9.15, a P/E/G ratio of 0.83 and a beta of 1.72. Signature Bank has a 12-month low of $165.36 and a 12-month high of $374.76.

Signature Bank (NASDAQ:SBNYGet Rating) last issued its quarterly earnings data on Tuesday, July 19th. The bank reported $5.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the firm earned $3.57 earnings per share. On average, equities research analysts forecast that Signature Bank will post 21.68 EPS for the current year.

Signature Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $2.24 annualized dividend and a dividend yield of 1.30%. Signature Bank’s dividend payout ratio is presently 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

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

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