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.

Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings data on Thursday, January 18th. The bank reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.20. Signature Bank had a net margin of 25.71% and a return on equity of 12.72%. The firm had revenue of $328.27 million during the quarter, compared to the consensus estimate of $321.86 million. During the same quarter in the previous year, the firm posted $2.11 EPS. sell-side analysts forecast that Signature Bank will post 11.13 earnings per share for the current year.

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.

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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.

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

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