Signature Bank (NASDAQ:SBNY) Position Boosted by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado raised its stake in shares of Signature Bank (NASDAQ:SBNY) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 10,984 shares of the bank’s stock after buying an additional 25 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Signature Bank were worth $1,577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atria Investments LLC raised its position in Signature Bank by 0.3% in the first quarter. Atria Investments LLC now owns 2,623 shares of the bank’s stock valued at $389,000 after buying an additional 8 shares during the last quarter. Tudor Investment Corp ET AL raised its position in Signature Bank by 0.6% in the first quarter. Tudor Investment Corp ET AL now owns 2,418 shares of the bank’s stock valued at $359,000 after buying an additional 14 shares during the last quarter. Bbva Compass Bancshares Inc. raised its position in Signature Bank by 0.4% in the first quarter. Bbva Compass Bancshares Inc. now owns 5,195 shares of the bank’s stock valued at $771,000 after buying an additional 21 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Signature Bank by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 6,120 shares of the bank’s stock valued at $909,000 after buying an additional 40 shares during the last quarter. Finally, Intrust Bank NA raised its position in Signature Bank by 1.7% in the first quarter. Intrust Bank NA now owns 2,886 shares of the bank’s stock valued at $428,000 after buying an additional 48 shares during the last quarter. 97.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Signature Bank (SBNY) opened at 128.47 on Friday. Signature Bank has a 1-year low of $113.53 and a 1-year high of $164.23. The stock’s 50 day moving average price is $137.92 and its 200 day moving average price is $145.74. The company has a market cap of $6.95 billion, a P/E ratio of 20.58 and a beta of 0.95.

Signature Bank (NASDAQ:SBNY) last released its earnings results on Wednesday, July 19th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by $0.01. The company had revenue of $316.79 million during the quarter, compared to analyst estimates of $324.44 million. Signature Bank had a net margin of 23.62% and a return on equity of 12.61%. During the same period in the prior year, the firm posted $1.90 EPS. Equities research analysts forecast that Signature Bank will post $7.23 earnings per share for the current year.

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SBNY has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $158.00 target price on shares of Signature Bank in a research note on Friday, July 14th. Jefferies Group LLC restated a “buy” rating and issued a $175.00 target price on shares of Signature Bank in a research note on Thursday, May 25th. BMO Capital Markets restated a “hold” rating and issued a $157.00 target price on shares of Signature Bank in a research note on Thursday, July 20th. Morgan Stanley boosted their target price on Signature Bank from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, June 6th. Finally, BidaskClub upgraded Signature Bank from a “sell” rating to a “hold” rating in a research note on Sunday, July 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. Signature Bank presently has a consensus rating of “Buy” and an average price target of $167.85.

About Signature Bank

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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