AlphaCrest Capital Management LLC grew its stake in shares of Signature Bank (NASDAQ:SBNY) by 40.6% during the 1st quarter, HoldingsChannel reports. The fund owned 3,825 shares of the bank’s stock after acquiring an additional 1,105 shares during the period. AlphaCrest Capital Management LLC’s holdings in Signature Bank were worth $490,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc increased its position in shares of Signature Bank by 2.0% during the 3rd quarter. Vanguard Group Inc now owns 4,726,790 shares of the bank’s stock valued at $542,823,000 after purchasing an additional 94,200 shares during the last quarter. Rhumbline Advisers increased its position in shares of Signature Bank by 40.0% during the 4th quarter. Rhumbline Advisers now owns 141,381 shares of the bank’s stock valued at $14,535,000 after purchasing an additional 40,371 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Signature Bank by 1.4% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 71,174 shares of the bank’s stock valued at $7,317,000 after purchasing an additional 987 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of Signature Bank during the 4th quarter valued at approximately $512,000. Finally, ETF Managers Group LLC increased its position in shares of Signature Bank by 15.5% during the 4th quarter. ETF Managers Group LLC now owns 914 shares of the bank’s stock valued at $94,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.
SBNY has been the topic of several analyst reports. BidaskClub downgraded Signature Bank from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. Wells Fargo & Co reissued a “buy” rating on shares of Signature Bank in a research report on Thursday, March 14th. Wedbush initiated coverage on Signature Bank in a research report on Tuesday, March 26th. They set a “focus list” rating on the stock. ValuEngine downgraded Signature Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, BMO Capital Markets cut their target price on Signature Bank from $132.00 to $128.00 and set a “market perform” rating on the stock in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine 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 $143.69.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Wednesday, April 17th. The bank reported $2.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.76 by ($0.11). The business had revenue of $325.08 million during the quarter, compared to the consensus estimate of $332.35 million. Signature Bank had a net margin of 34.17% and a return on equity of 14.15%. During the same period last year, the company earned $2.69 EPS. On average, equities analysts expect that Signature Bank will post 11.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.86%. The ex-dividend date was Tuesday, April 30th. Signature Bank’s dividend payout ratio (DPR) is presently 19.86%.
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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