Signature Bank (NASDAQ:SBNY) released its quarterly earnings data on Thursday. The company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.02. Signature Bank had a return on equity of 12.70% and a net margin of 29.21%. During the same period in the prior year, the company earned $2.01 earnings per share.
Shares of Signature Bank (NASDAQ:SBNY) opened at 150.97 on Friday. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 20.82 and a beta of 0.88. Signature Bank has a 12 month low of $113.53 and a 12 month high of $157.46. The company has a 50-day moving average price of $150.74 and a 200-day moving average price of $130.32.
A number of large investors have recently bought and sold shares of SBNY. JPMorgan Chase & Co. raised its stake in Signature Bank by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 2,010,459 shares of the company’s stock worth $238,140,000 after buying an additional 291,889 shares in the last quarter. FSI Group LLC bought a new stake in Signature Bank during the second quarter worth about $1,249,000. Redwood Investments LLC raised its stake in Signature Bank by 4.7% in the second quarter. Redwood Investments LLC now owns 154,227 shares of the company’s stock worth $19,266,000 after buying an additional 6,993 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Signature Bank by 23.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 9,100 shares of the company’s stock worth $1,078,000 after buying an additional 1,700 shares in the last quarter. Finally, BlackRock Japan Co. Ltd raised its stake in Signature Bank by 1.4% in the third quarter. BlackRock Japan Co. Ltd now owns 64,037 shares of the company’s stock worth $7,585,000 after buying an additional 874 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.
SBNY has been the subject of several recent research reports. Deutsche Bank AG restated a “buy” rating and issued a $153.00 price objective on shares of Signature Bank in a report on Friday, October 21st. BMO Capital Markets downgraded Signature Bank from an “outperform” rating to a “market perform” rating and set a $128.00 price objective for the company. in a report on Friday, October 21st. Hovde Group downgraded Signature Bank from a “market perform” rating to an “underperform” rating in a report on Monday, November 14th. FBR & Co reduced their target price on shares of Signature Bank from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Friday, October 21st. Finally, Barclays PLC upgraded shares of Signature Bank from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $150.00 to $139.00 in a report on Wednesday, September 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $151.80.
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.