Motley Fool Wealth Management LLC Boosts Stock Holdings in Signature Bank (NASDAQ:SBNY)

Motley Fool Wealth Management LLC grew its position in shares of Signature Bank (NASDAQ:SBNYGet Rating) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,718 shares of the bank’s stock after acquiring an additional 1,532 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Signature Bank were worth $5,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of SBNY. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of Signature Bank in the 1st quarter worth about $29,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Signature Bank by 103.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 161 shares of the bank’s stock worth $52,000 after buying an additional 82 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Signature Bank by 28.7% in the 1st quarter. Allworth Financial LP now owns 193 shares of the bank’s stock worth $57,000 after buying an additional 43 shares during the last quarter. CWM LLC purchased a new position in shares of Signature Bank in the 4th quarter worth about $72,000. Finally, National Bank of Canada FI bought a new stake in Signature Bank in the 4th quarter valued at about $82,000. 96.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SBNY shares. Maxim Group lowered their price objective on Signature Bank from $450.00 to $425.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Stephens decreased their price target on Signature Bank to $240.00 in a research report on Friday, July 22nd. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Signature Bank in a research report on Wednesday, July 20th. Jefferies Financial Group decreased their price objective on shares of Signature Bank from $352.00 to $267.00 in a research report on Monday, July 11th. Finally, Morgan Stanley decreased their price objective on shares of Signature Bank from $262.00 to $247.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $298.69.

Signature Bank Stock Up 3.2 %

Shares of Signature Bank stock opened at $180.51 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.82 and a current ratio of 0.83. Signature Bank has a 52-week low of $165.36 and a 52-week high of $374.76. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 0.87 and a beta of 1.80. The company’s 50 day moving average price is $192.14 and its 200-day moving average price is $260.98.

Signature Bank (NASDAQ:SBNYGet Rating) last issued its earnings results on Tuesday, July 19th. The bank reported $5.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.21. Signature Bank had a net margin of 43.86% and a return on equity of 15.02%. During the same period in the previous year, the business earned $3.57 EPS. Equities research analysts forecast that Signature Bank will post 22.03 EPS for the current year.

Signature Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.24%. The ex-dividend date is Thursday, July 28th. Signature Bank’s dividend payout ratio (DPR) is currently 11.93%.

Signature Bank Company Profile

(Get Rating)

Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The company provides various lending products comprising commercial and industrial loans, real estate loans, and letters of credit.

Read More

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:SBNYGet Rating).

Institutional Ownership by Quarter 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.