Hsbc Holdings PLC Sells 38,651 Shares of Signature Bank (NASDAQ:SBNY)


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Hsbc Holdings PLC decreased its position in Signature Bank (NASDAQ:SBNY) by 86.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,075 shares of the bank’s stock after selling 38,651 shares during the quarter. Hsbc Holdings PLC’s holdings in Signature Bank were worth $822,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Squarepoint Ops LLC bought a new stake in shares of Signature Bank in the 3rd quarter worth about $2,774,000. Mirova US LLC grew its holdings in shares of Signature Bank by 89.8% in the 4th quarter. Mirova US LLC now owns 773,378 shares of the bank’s stock worth $104,630,000 after purchasing an additional 365,825 shares during the last quarter. Circle Wealth Management LLC bought a new stake in shares of Signature Bank in the 4th quarter worth about $262,000. Davis Capital Partners LLC grew its holdings in shares of Signature Bank by 37.5% in the 4th quarter. Davis Capital Partners LLC now owns 550,000 shares of the bank’s stock worth $74,409,000 after purchasing an additional 150,000 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Signature Bank in the 3rd quarter worth about $853,000. 92.31% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:SBNY opened at $223.70 on Thursday. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 1.40 and a beta of 1.98. The firm’s 50 day simple moving average is $225.07 and its 200 day simple moving average is $147.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.96 and a quick ratio of 0.95. Signature Bank has a fifty-two week low of $71.44 and a fifty-two week high of $249.94.

Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Wednesday, January 20th. The bank reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.37. The business had revenue of $419.17 million for the quarter, compared to the consensus estimate of $419.44 million. Signature Bank had a net margin of 25.40% and a return on equity of 10.39%. Equities research analysts expect that Signature Bank will post 9.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 12th. Investors of record on Monday, February 1st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, January 29th. This represents a $2.24 dividend on an annualized basis and a yield of 1.00%. Signature Bank’s payout ratio is 20.63%.

A number of equities research analysts have commented on the stock. Maxim Group increased their price objective on shares of Signature Bank from $172.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, January 22nd. They noted that the move was a valuation call. Wells Fargo & Company increased their price objective on shares of Signature Bank from $220.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, March 8th. Credit Suisse Group increased their price objective on shares of Signature Bank from $180.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, March 15th. UBS Group increased their price objective on shares of Signature Bank from $190.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, March 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Signature Bank from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, January 25th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Signature Bank currently has a consensus rating of “Buy” and an average price target of $196.88.

About Signature Bank

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

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