Matterhorn Capital Management Lowers stake in Signature Bank (SBNY)

Signature Bank (SBNY) : Matterhorn Capital Management reduced its stake in Signature Bank by 33.27% during the most recent quarter end. The investment management company now holds a total of 10,827 shares of Signature Bank which is valued at $1,297,508 after selling 5,399 shares in Signature Bank , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Signature Bank makes up approximately 0.81% of Matterhorn Capital Management’s portfolio.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in SBNY in the latest quarter, The investment management firm added 967 additional shares and now holds a total of 18,897 shares of Signature Bank which is valued at $2,264,616. Signature Bank makes up approx 0.05% of Oregon Public Employees Retirement Fund’s portfolio.California State Teachers Retirement System boosted its stake in SBNY in the latest quarter, The investment management firm added 5,182 additional shares and now holds a total of 113,105 shares of Signature Bank which is valued at $13,554,503. Signature Bank makes up approx 0.03% of California State Teachers Retirement System’s portfolio. Smith Asset Management Group Lp sold out all of its stake in SBNY during the most recent quarter. The investment firm sold 107,100 shares of SBNY which is valued $12,996,585.Cibc World Markets reduced its stake in SBNY by selling 6,345 shares or 72.57% in the most recent quarter. The Hedge Fund company now holds 2,398 shares of SBNY which is valued at $297,520. Vigilant Capital Management added SBNY to its portfolio by purchasing 76 company shares during the most recent quarter which is valued at $9,427.

Signature Bank closed down -3.57 points or -2.88% at $120.56 with 5,74,518 shares getting traded on Monday. Post opening the session at $124.59, the shares hit an intraday low of $120.48 and an intraday high of $124.93 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Signature Bank reported $1.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus of $1.98.Analysts expectations of $ 295.42.During the same quarter in the previous year, the company posted $1.77 EPS.

Many Wall Street Analysts have commented on Signature Bank. Shares were Reiterated by FBR Capital on Jul 21, 2016 to “Outperform” and Lowered the Price Target to $ 155 from a previous price target of $167 .Signature Bank was Upgraded by Raymond James to ” Strong Buy” on Jun 21, 2016. Signature Bank was Downgraded by Piper Jaffray to ” Neutral” on May 31, 2016.

Signature Bank (the Bank) is a full-service commercial bank with 27 private client o?ffices located throughout the New York metropolitan area. The Bank primarily serves privately owned businesses their owners and senior managers. Signature Bank offers a range of business and personal banking products and services as well as investment brokerage asset management and insurance products and services through its subsidiary Signature Securities Group Corporation a licensed broker-dealer investment adviser. In addition Signature Bank’s wholly owned specialty finance subsidiary Signature Financial LLC provides equipment finance and leasing along with taxi medallion and transportation financing to clients located throughout the United States. Through Signature Securities it also purchases securitizes and sells the guaranteed portions of the United States Small Business Administration (SBA) loans.

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