US Bancorp DE Decreases Stock Holdings in Signature Bank (NASDAQ:SBNY)

US Bancorp DE decreased its holdings in Signature Bank (NASDAQ:SBNYGet Rating) by 9.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,405 shares of the bank’s stock after selling 1,072 shares during the period. US Bancorp DE’s holdings in Signature Bank were worth $1,571,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SBNY. Price T Rowe Associates Inc. MD grew its stake in shares of Signature Bank by 56.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,244,799 shares of the bank’s stock valued at $939,920,000 after purchasing an additional 1,900,674 shares during the period. Bank of America Corp DE grew its stake in shares of Signature Bank by 72.7% during the 1st quarter. Bank of America Corp DE now owns 1,577,263 shares of the bank’s stock valued at $462,910,000 after purchasing an additional 663,755 shares during the period. Vanguard Group Inc. grew its stake in shares of Signature Bank by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 6,161,104 shares of the bank’s stock valued at $1,808,223,000 after purchasing an additional 378,308 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Signature Bank by 66.9% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 924,774 shares of the bank’s stock valued at $165,729,000 after purchasing an additional 370,800 shares during the period. Finally, Capital Research Global Investors bought a new stake in shares of Signature Bank during the 1st quarter valued at about $105,631,000. Hedge funds and other institutional investors own 93.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods downgraded Signature Bank from an “outperform” rating to a “market perform” rating and set a $185.00 price target for the company. in a research note on Wednesday, October 19th. Maxim Group cut their price objective on Signature Bank from $350.00 to $250.00 in a research note on Friday, December 9th. Wedbush cut their price objective on Signature Bank from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 19th. StockNews.com assumed coverage on Signature Bank in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. cut their price objective on Signature Bank from $200.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, December 13th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Signature Bank has a consensus rating of “Moderate Buy” and a consensus price target of $190.79.

Signature Bank Stock Up 1.1 %

NASDAQ SBNY opened at $118.37 on Tuesday. The stock’s 50 day moving average is $124.56 and its 200 day moving average is $156.17. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.26. Signature Bank has a 12 month low of $106.81 and a 12 month high of $374.76. The stock has a market cap of $7.45 billion, a PE ratio of 5.78, a P/E/G ratio of 0.71 and a beta of 1.65.

Signature Bank (NASDAQ:SBNYGet Rating) last issued its quarterly earnings data on Tuesday, October 18th. The bank reported $5.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.42 by $0.15. The business had revenue of $717.74 million for the quarter, compared to analysts’ expectations of $737.63 million. Signature Bank had a return on equity of 16.49% and a net margin of 41.55%. During the same period in the prior year, the firm earned $3.88 EPS. Research analysts predict that Signature Bank will post 21.01 EPS for the current fiscal year.

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.

See Also

Want to see what other hedge funds are holding SBNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Signature Bank (NASDAQ:SBNYGet Rating).

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

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