Russell Investments Group Ltd. Has $11.10 Million Stock Holdings in Signature Bank (NASDAQ:SBNY)

Russell Investments Group Ltd. cut its position in Signature Bank (NASDAQ:SBNY – Get Rating) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,833 shares of the bank’s stock after selling 975 shares during the period. Russell Investments Group Ltd. owned 0.06% of Signature Bank worth $11,102,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SBNY. Capital International Investors acquired a new stake in shares of Signature Bank in the 4th quarter valued at about $599,227,000. State Street Corp grew its stake in shares of Signature Bank by 53.1% in the 4th quarter. State Street Corp now owns 3,034,921 shares of the bank’s stock valued at $981,706,000 after buying an additional 1,052,338 shares during the period. Norges Bank acquired a new stake in shares of Signature Bank in the 4th quarter valued at about $185,605,000. Bank of America Corp DE lifted its position in Signature Bank by 86.3% in the 4th quarter. Bank of America Corp DE now owns 913,508 shares of the bank’s stock valued at $295,492,000 after acquiring an additional 423,228 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Signature Bank by 50.3% in the 4th quarter. Geode Capital Management LLC now owns 1,164,486 shares of the bank’s stock valued at $375,710,000 after acquiring an additional 389,849 shares in the last quarter. 96.17% of the stock is currently owned by institutional investors and hedge funds.

Signature Bank Stock Performance

NASDAQ:SBNY opened at $187.28 on Friday. The company has a market capitalization of $11.36 billion, a P/E ratio of 9.97, a P/E/G ratio of 0.91 and a beta of 1.73. The business has a fifty day simple moving average of $190.35 and a two-hundred day simple moving average of $251.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.82. Signature Bank has a 1 year low of $165.36 and a 1 year high of $374.76.

Signature Bank (NASDAQ:SBNY – Get Rating) last issued its quarterly earnings results on Tuesday, July 19th. The bank reported $5.26 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.21. Signature Bank had a return on equity of 15.02% and a net margin of 43.86%. During the same quarter in the previous year, the firm posted $3.57 EPS. On average, analysts expect that Signature Bank will post 21.81 earnings per share for the current year.

Signature Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be given a dividend of $0.56 per share. The ex-dividend date is Thursday, July 28th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.20%. Signature Bank’s dividend payout ratio is presently 11.93%.

Analyst Ratings Changes

Several equities analysts recently weighed in on SBNY shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Signature Bank in a research report on Wednesday, July 20th. UBS Group dropped their price target on shares of Signature Bank from $309.00 to $288.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. Jefferies Financial Group dropped their price target on shares of Signature Bank from $352.00 to $267.00 in a research report on Monday, July 11th. Raymond James dropped their price target on shares of Signature Bank from $305.00 to $286.00 in a research report on Wednesday, July 20th. Finally, Wells Fargo & Company dropped their target price on shares of Signature Bank to $280.00 in a research report on Friday, July 22nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $298.69.

About Signature Bank

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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.