Pictet Asset Management SA Grows Stock Holdings in Signature Bank (NASDAQ:SBNY)

Pictet Asset Management SA raised its position in shares of Signature Bank (NASDAQ:SBNYGet Rating) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,779 shares of the bank’s stock after buying an additional 99 shares during the period. Pictet Asset Management SA’s holdings in Signature Bank were worth $4,441,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SBNY. Capital International Investors boosted its position in shares of Signature Bank by 72.7% during the first quarter. Capital International Investors now owns 3,198,719 shares of the bank’s stock worth $939,240,000 after buying an additional 1,346,224 shares during the period. Bank of America Corp DE boosted its position in shares of Signature Bank by 72.7% during the first quarter. Bank of America Corp DE now owns 1,577,263 shares of the bank’s stock worth $462,910,000 after buying an additional 663,755 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of Signature Bank by 3,956,857.1% during the first quarter. Brown Brothers Harriman & Co. now owns 553,974 shares of the bank’s stock worth $162,586,000 after buying an additional 553,960 shares during the period. Vanguard Group Inc. boosted its position in shares of Signature Bank by 6.5% during the first quarter. Vanguard Group Inc. now owns 6,161,104 shares of the bank’s stock worth $1,808,223,000 after buying an additional 378,308 shares during the period. Finally, Capital Research Global Investors purchased a new position in Signature Bank in the first quarter valued at $105,631,000. 98.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SBNY has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their target price on Signature Bank from $256.00 to $205.00 and set a “buy” rating for the company in a report on Thursday, October 20th. Jefferies Financial Group decreased their target price on Signature Bank from $248.00 to $205.00 and set a “buy” rating for the company in a report on Thursday, September 8th. Keefe, Bruyette & Woods lowered Signature Bank from an “outperform” rating to a “market perform” rating and set a $185.00 target price for the company. in a report on Wednesday, October 19th. Morgan Stanley decreased their target price on Signature Bank from $244.00 to $223.00 and set an “overweight” rating for the company in a report on Wednesday, October 19th. Finally, StockNews.com began coverage on Signature Bank in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Signature Bank has an average rating of “Moderate Buy” and a consensus price target of $227.50.

Signature Bank Stock Up 0.0 %

SBNY opened at $132.03 on Friday. The business’s 50-day simple moving average is $153.78 and its 200-day simple moving average is $179.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.82 and a current ratio of 0.82. Signature Bank has a one year low of $129.96 and a one year high of $374.76. The stock has a market capitalization of $8.31 billion, a P/E ratio of 6.45, a price-to-earnings-growth ratio of 0.65 and a beta of 1.67.

Signature Bank (NASDAQ:SBNYGet Rating) last posted its earnings results on Tuesday, October 18th. The bank reported $5.57 EPS for the quarter, topping analysts’ consensus estimates of $5.44 by $0.13. Signature Bank had a return on equity of 16.49% and a net margin of 41.55%. During the same quarter in the previous year, the company earned $3.88 EPS. Analysts anticipate that Signature Bank will post 21.49 EPS for the current year.

Signature Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Friday, October 28th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, October 27th. Signature Bank’s dividend payout ratio (DPR) is presently 10.94%.

About Signature Bank

(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.

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

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