Signature Bank (NASDAQ:SBNY) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Signature Bank (NASDAQ:SBNYGet Free Report) in a research note issued on Wednesday. The brokerage set a “sell” rating on the stock.

Signature Bank Price Performance

Shares of NASDAQ SBNY opened at $2.30 on Wednesday. Signature Bank has a 12 month low of $0.00 and a 12 month high of $2.75. The company has a market cap of $144.74 million, a price-to-earnings ratio of 0.11 and a beta of 9.55. The business has a fifty day simple moving average of $1.81 and a 200-day simple moving average of $0.92.

Institutional Investors Weigh In On Signature Bank

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. raised its position in Signature Bank by 10.6% during the first quarter. American Century Companies Inc. now owns 6,541 shares of the company’s stock valued at $1,920,000 after buying an additional 626 shares during the period. Private Advisor Group LLC bought a new stake in Signature Bank during the 1st quarter valued at approximately $307,000. Panagora Asset Management Inc. lifted its position in shares of Signature Bank by 6.0% during the 1st quarter. Panagora Asset Management Inc. now owns 1,774 shares of the company’s stock worth $521,000 after buying an additional 101 shares during the period. APG Asset Management N.V. lifted its position in shares of Signature Bank by 50.0% during the 1st quarter. APG Asset Management N.V. now owns 2,700 shares of the company’s stock worth $712,000 after buying an additional 900 shares during the period. Finally, Great West Life Assurance Co. Can lifted its position in shares of Signature Bank by 5.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 32,654 shares of the company’s stock worth $10,052,000 after buying an additional 1,543 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

About Signature Bank

(Get Free Report)

As of March 12, 2023, Signature Bank went out of business. Previously, the company provided digital assets banking services and comprised of certain loan portfolios. The company was incorporated in 2000 and is based in New York, New York. Signature Bank now trades on OTCPK.

Further Reading

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