StockNews.com initiated coverage on shares of Signature Bank (NASDAQ:SBNY – Free Report) in a research report sent to investors on Thursday. The firm issued a sell rating on the stock.
Signature Bank Trading Down 0.6 %
NASDAQ SBNY opened at $3.30 on Thursday. The firm has a 50-day simple moving average of $2.01 and a 200 day simple moving average of $1.05. Signature Bank has a twelve month low of $0.00 and a twelve month high of $3.50.
Institutional Investors Weigh In On Signature Bank
Several hedge funds have recently made changes to their positions in SBNY. Vanguard Group Inc. lifted its stake in shares of Signature Bank by 6.5% in the first quarter. Vanguard Group Inc. now owns 6,161,104 shares of the company’s stock valued at $1,808,223,000 after buying an additional 378,308 shares during the period. Capital Research Global Investors bought a new stake in shares of Signature Bank in the first quarter valued at about $105,631,000. Squarepoint Ops LLC lifted its stake in Signature Bank by 202.2% during the fourth quarter. Squarepoint Ops LLC now owns 469,640 shares of the company’s stock worth $54,112,000 after purchasing an additional 314,235 shares during the period. Morgan Stanley boosted its holdings in Signature Bank by 34.5% during the fourth quarter. Morgan Stanley now owns 831,449 shares of the company’s stock valued at $95,800,000 after purchasing an additional 213,419 shares in the last quarter. Finally, State Street Corp boosted its holdings in Signature Bank by 6.3% during the third quarter. State Street Corp now owns 3,044,971 shares of the company’s stock valued at $459,791,000 after purchasing an additional 180,642 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.
About Signature Bank
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.
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