BNP Paribas Arbitrage SNC Buys 69,194 Shares of Signature Bank (NASDAQ:SBNY)

BNP Paribas Arbitrage SNC increased its stake in shares of Signature Bank (NASDAQ:SBNY – Get Rating) by 108.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,824 shares of the bank’s stock after buying an additional 69,194 shares during the quarter. BNP Paribas Arbitrage SNC’s holdings in Signature Bank were worth $20,056,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Private Trust Co. NA bought a new position in Signature Bank in the 2nd quarter valued at $32,000. Wipfli Financial Advisors LLC bought a new position in Signature Bank in the 3rd quarter valued at $39,000. Eagle Bay Advisors LLC raised its position in Signature Bank by 54.2% in the 2nd quarter. Eagle Bay Advisors LLC now owns 222 shares of the bank’s stock valued at $40,000 after purchasing an additional 78 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Signature Bank in the 3rd quarter valued at $45,000. Finally, SOA Wealth Advisors LLC. raised its position in Signature Bank by 37.7% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 369 shares of the bank’s stock valued at $55,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 93.62% of the company’s stock.

Signature Bank Stock Performance

NASDAQ SBNY opened at $70.00 on Wednesday. The firm has a market cap of $4.41 billion, a P/E ratio of 3.37, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.90 and a quick ratio of 0.89. The stock’s 50-day moving average is $119.49 and its 200-day moving average is $136.73. Signature Bank has a one year low of $61.37 and a one year high of $328.88.

Signature Bank (NASDAQ:SBNY – Get Rating) last posted its quarterly earnings data on Tuesday, January 17th. The bank reported $4.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.92 by ($0.27). Signature Bank had a return on equity of 16.76% and a net margin of 36.03%. The firm had revenue of $683.90 million for the quarter, compared to the consensus estimate of $687.00 million. Sell-side analysts anticipate that Signature Bank will post 14.7 earnings per share for the current fiscal year.

Signature Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, January 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, January 26th. This is an increase from Signature Bank’s previous quarterly dividend of $0.56. Signature Bank’s dividend payout ratio is presently 13.47%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Maxim Group cut their price objective on Signature Bank from $250.00 to $200.00 in a research report on Wednesday, January 18th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Signature Bank in a research note on Monday. Raymond James lowered Signature Bank from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, December 7th. Stephens downgraded shares of Signature Bank from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $150.00 to $145.00 in a research report on Wednesday, January 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Signature Bank from $205.00 to $137.00 in a research note on Wednesday, December 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.29.

Signature Bank Company Profile

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Signature Bank engages in the provision of commercial banking services. It operates through the Commercial Banking and Specialty Finance segments. The Commercial Banking segment consists of commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities.