Perigon Wealth Management LLC Acquires New Stake in Signature Bank (SBNY)

Perigon Wealth Management LLC acquired a new stake in shares of Signature Bank (NASDAQ:SBNY) in the third quarter, HoldingsChannel reports. The firm acquired 2,240 shares of the bank’s stock, valued at approximately $257,000.

A number of other institutional investors have also recently bought and sold shares of SBNY. Ancora Advisors LLC purchased a new stake in Signature Bank in the third quarter worth about $507,000. GSA Capital Partners LLP purchased a new stake in Signature Bank in the third quarter worth about $435,000. Hsbc Holdings PLC increased its position in Signature Bank by 17.7% in the third quarter. Hsbc Holdings PLC now owns 14,132 shares of the bank’s stock worth $1,623,000 after buying an additional 2,122 shares in the last quarter. Standard Life Aberdeen plc increased its position in Signature Bank by 7.6% in the third quarter. Standard Life Aberdeen plc now owns 41,131 shares of the bank’s stock worth $4,723,000 after buying an additional 2,906 shares in the last quarter. Finally, AMP Capital Investors Ltd increased its position in Signature Bank by 13.6% in the third quarter. AMP Capital Investors Ltd now owns 17,873 shares of the bank’s stock worth $2,036,000 after buying an additional 2,133 shares in the last quarter.

A number of brokerages have commented on SBNY. BidaskClub upgraded Signature Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Morgan Stanley cut their target price on Signature Bank from $135.00 to $133.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 18th. Hovde Group upgraded Signature Bank from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $144.00 to $133.00 in a research report on Wednesday, August 8th. ValuEngine upgraded Signature Bank from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 10th. Finally, Wells Fargo & Co cut their target price on Signature Bank from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $141.92.

NASDAQ:SBNY opened at $123.33 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.96 and a quick ratio of 0.95. Signature Bank has a 12-month low of $105.43 and a 12-month high of $161.92. The stock has a market cap of $6.78 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.03 and a beta of 0.91.

Signature Bank (NASDAQ:SBNY) last released its earnings results on Thursday, October 18th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.01. Signature Bank had a return on equity of 14.34% and a net margin of 27.66%. The firm had revenue of $329.34 million during the quarter, compared to analysts’ expectations of $331.77 million. During the same quarter last year, the business posted $2.29 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. As a group, research analysts anticipate that Signature Bank will post 11.16 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Wednesday, October 31st. Signature Bank’s dividend payout ratio is currently 25.14%.

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About Signature Bank

Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.

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

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