State Treasurer State of Michigan Has $2.65 Million Position in Signature Bank (SBNY)
State Treasurer State of Michigan lowered its position in shares of Signature Bank (NASDAQ:SBNY) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,300 shares of the bank’s stock after selling 1,400 shares during the period. State Treasurer State of Michigan’s holdings in Signature Bank were worth $2,649,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of SBNY. Steward Partners Investment Advisory LLC bought a new stake in Signature Bank in the 3rd quarter worth approximately $115,000. Zions Bancorporation bought a new stake in Signature Bank in the 3rd quarter worth approximately $152,000. Rockefeller Financial Services Inc. bought a new stake in Signature Bank in the 3rd quarter worth approximately $192,000. WINTON GROUP Ltd bought a new stake in Signature Bank in the 3rd quarter worth approximately $210,000. Finally, IFG Advisory LLC bought a new stake in Signature Bank in the 4th quarter worth approximately $216,000. 94.82% of the stock is owned by institutional investors and hedge funds.
Shares of Signature Bank (NASDAQ SBNY) opened at $149.38 on Friday. Signature Bank has a 1 year low of $116.68 and a 1 year high of $163.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.95 and a current ratio of 0.97. The stock has a market cap of $8,212.76, a price-to-earnings ratio of 16.45, a PEG ratio of 1.25 and a beta of 1.10.
A number of equities research analysts have commented on SBNY shares. TheStreet raised shares of Signature Bank from a “c+” rating to a “b” rating in a research report on Wednesday, November 29th. Maxim Group lifted their target price on shares of Signature Bank from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Stephens reaffirmed a “buy” rating on shares of Signature Bank in a research report on Friday, January 19th. Jefferies Group reaffirmed a “buy” rating and issued a $155.00 target price on shares of Signature Bank in a research report on Tuesday, October 24th. Finally, Barclays set a $140.00 target price on shares of Signature Bank and gave the stock a “buy” rating in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $158.56.
Signature Bank Company Profile
Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.
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:SBNY).
Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.