Signature Bank (NASDAQ:SBNY) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Signature Bank (NASDAQ:SBNY) in a research report released on Friday morning. The firm issued a sell rating on the stock.

Signature Bank Stock Performance

Shares of NASDAQ SBNY opened at $3.59 on Friday. Signature Bank has a fifty-two week low of $0.00 and a fifty-two week high of $3.60. The firm’s 50-day simple moving average is $2.29 and its 200 day simple moving average is $1.19.

Institutional Investors Weigh In On Signature Bank

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbour Investments Inc. raised its position in Signature Bank by 42.7% in the fourth quarter. Harbour Investments Inc. now owns 836 shares of the company’s stock worth $96,000 after acquiring an additional 250 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Signature Bank by 197.5% in the first quarter. Canada Pension Plan Investment Board now owns 363 shares of the company’s stock worth $107,000 after acquiring an additional 241 shares in the last quarter. Syntax Advisors LLC bought a new stake in Signature Bank in the fourth quarter worth about $200,000. Meeder Asset Management Inc. raised its position in Signature Bank by 864.3% in the fourth quarter. Meeder Asset Management Inc. now owns 1,755 shares of the company’s stock worth $202,000 after acquiring an additional 1,573 shares in the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new position in Signature Bank in the 1st quarter worth about $205,000. 11.07% of the stock is currently owned by institutional investors.

About Signature Bank

As of March 12, 2023, Signature Bank went out of business. Previously, the company provided digital assets banking services and comprised of certain loan portfolios. The company was incorporated in 2000 and is based in New York, New York. Signature Bank now trades on OTCPK.