BNP Paribas Arbitrage SA Has $7.58 Million Stake in Signature Bank (SBNY)

BNP Paribas Arbitrage SA lifted its stake in shares of Signature Bank (NASDAQ:SBNY) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,163 shares of the bank’s stock after acquiring an additional 2,020 shares during the period. BNP Paribas Arbitrage SA owned 0.11% of Signature Bank worth $7,575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Signature Bank by 1.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock worth $202,000 after acquiring an additional 21 shares during the period. Cadence Capital Management LLC raised its holdings in shares of Signature Bank by 1.1% during the 2nd quarter. Cadence Capital Management LLC now owns 2,118 shares of the bank’s stock worth $304,000 after acquiring an additional 23 shares during the period. Boston Private Wealth LLC raised its holdings in shares of Signature Bank by 0.3% during the 2nd quarter. Boston Private Wealth LLC now owns 7,568 shares of the bank’s stock worth $1,086,000 after acquiring an additional 25 shares during the period. YorkBridge Wealth Partners LLC raised its holdings in shares of Signature Bank by 6.3% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after acquiring an additional 41 shares during the period. Finally, IFP Advisors Inc raised its holdings in shares of Signature Bank by 1.5% during the 2nd quarter. IFP Advisors Inc now owns 3,128 shares of the bank’s stock worth $449,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 97.93% of the company’s stock.

Several brokerages recently issued reports on SBNY. Piper Jaffray Companies restated a “neutral” rating and issued a $140.00 price objective on shares of Signature Bank in a report on Friday, October 13th. Morgan Stanley lowered shares of Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 price objective on the stock. in a report on Monday, November 6th. FIG Partners restated an “outperform” rating and issued a $150.00 price objective on shares of Signature Bank in a report on Monday, October 2nd. BMO Capital Markets upgraded shares of Signature Bank from a “market perform” rating to an “outperform” rating in a report on Friday, October 20th. Finally, Wedbush lowered shares of Signature Bank from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $157.00 to $126.00 in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. Signature Bank currently has a consensus rating of “Buy” and an average target price of $154.80.

Signature Bank (SBNY) opened at $129.79 on Friday. The firm has a market capitalization of $6,997.58, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.91. Signature Bank has a 52-week low of $116.68 and a 52-week high of $164.23.

Signature Bank (NASDAQ:SBNY) last released its earnings results on Thursday, October 19th. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.10. Signature Bank had a return on equity of 12.58% and a net margin of 26.40%. The company had revenue of $316.94 million during the quarter, compared to the consensus estimate of $322.22 million. During the same period in the previous year, the company posted $2.11 EPS. equities research analysts anticipate that Signature Bank will post 7.25 earnings per share for the current year.

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Signature Bank Company Profile

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.

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

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