Oakbrook Investments LLC grew its holdings in Signature Bank (NASDAQ:SBNY) by 8.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,025 shares of the bank’s stock after acquiring an additional 450 shares during the quarter. Oakbrook Investments LLC’s holdings in Signature Bank were worth $772,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. CI Investments Inc. purchased a new position in Signature Bank during the 4th quarter worth approximately $51,755,000. Massachusetts Financial Services Co. MA grew its stake in Signature Bank by 35.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,641,375 shares of the bank’s stock worth $168,750,000 after buying an additional 431,243 shares during the last quarter. Norges Bank purchased a new position in Signature Bank during the 4th quarter worth approximately $40,558,000. FMR LLC grew its stake in Signature Bank by 14.9% during the 4th quarter. FMR LLC now owns 2,463,224 shares of the bank’s stock worth $253,244,000 after buying an additional 319,803 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Signature Bank by 29.4% during the 4th quarter. Millennium Management LLC now owns 814,447 shares of the bank’s stock worth $83,733,000 after buying an additional 185,048 shares during the last quarter. Institutional investors and hedge funds own 93.43% of the company’s stock.
Signature Bank stock opened at $126.38 on Monday. Signature Bank has a twelve month low of $98.54 and a twelve month high of $137.93. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 1.19. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 1.04 and a beta of 1.36.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.56 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $2.24 annualized dividend and a dividend yield of 1.77%. Signature Bank’s dividend payout ratio is currently 19.86%.
A number of research analysts recently issued reports on the company. Raymond James dropped their price target on Signature Bank from $146.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday. FIG Partners downgraded Signature Bank from an “outperform” rating to a “market perform” rating in a research note on Thursday. ValuEngine upgraded Signature Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. BidaskClub upgraded Signature Bank from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. Finally, JPMorgan Chase & Co. upgraded Signature Bank from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $133.00 to $150.00 in a research note on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Signature Bank presently has an average rating of “Buy” and an average target price of $141.89.
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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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