Cibc World Market Inc. Lowers Stock Position in Signature Bank (NASDAQ:SBNY)

Cibc World Market Inc. lessened its holdings in Signature Bank (NASDAQ:SBNYGet Rating) by 41.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,830 shares of the bank’s stock after selling 1,304 shares during the quarter. Cibc World Market Inc.’s holdings in Signature Bank were worth $328,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Parkside Financial Bank & Trust raised its stake in shares of Signature Bank by 236.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 148 shares of the bank’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. JCSD Capital LLC bought a new position in shares of Signature Bank during the 1st quarter worth approximately $29,000. Blume Capital Management Inc. bought a new position in shares of Signature Bank during the 1st quarter worth approximately $29,000. Quent Capital LLC raised its stake in shares of Signature Bank by 152.5% during the 1st quarter. Quent Capital LLC now owns 101 shares of the bank’s stock worth $30,000 after acquiring an additional 61 shares in the last quarter. Finally, Cambridge Trust Co. increased its stake in Signature Bank by 1,018.2% during the 1st quarter. Cambridge Trust Co. now owns 123 shares of the bank’s stock valued at $36,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 98.62% of the company’s stock.

Signature Bank Stock Performance

Shares of NASDAQ SBNY opened at $139.51 on Thursday. The company’s fifty day moving average price is $151.07 and its 200 day moving average price is $176.65. Signature Bank has a 1 year low of $129.96 and a 1 year high of $374.76. The company has a market capitalization of $8.78 billion, a PE ratio of 6.82, a price-to-earnings-growth ratio of 0.65 and a beta of 1.67. 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 (NASDAQ:SBNYGet Rating) last announced its quarterly earnings results on Tuesday, October 18th. The bank reported $5.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.44 by $0.13. Signature Bank had a net margin of 41.55% and a return on equity of 16.49%. During the same quarter in the prior year, the firm earned $3.88 EPS. On average, research analysts predict that Signature Bank will post 21.49 earnings per share for the current year.

Signature Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Friday, October 28th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Thursday, October 27th. Signature Bank’s dividend payout ratio (DPR) is presently 10.94%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SBNY. Wedbush cut their price target on shares of Signature Bank from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 19th. Stephens cut their price target on shares of Signature Bank to $175.00 in a research note on Wednesday, November 16th. Jefferies Financial Group cut their price target on shares of Signature Bank from $248.00 to $205.00 and set a “buy” rating on the stock in a research note on Thursday, September 8th. StockNews.com began coverage on shares of Signature Bank in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods downgraded shares of Signature Bank from an “outperform” rating to a “market perform” rating and set a $185.00 price objective on the stock. in a report on Wednesday, October 19th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Signature Bank currently has a consensus rating of “Moderate Buy” and an average price target of $227.50.

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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