Trinity Street Asset Management Llp buys $27,901,507 stake in Signature Bank (SBNY)

Signature Bank (SBNY) : Trinity Street Asset Management Llp scooped up 5,053 additional shares in Signature Bank during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 11, 2016. The investment management firm now holds a total of 227,285 shares of Signature Bank which is valued at $27,901,507.Signature Bank makes up approximately 4.83% of Trinity Street Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund reduced its stake in SBNY by selling 330 shares or 1.75% in the most recent quarter. The Hedge Fund company now holds 18,567 shares of SBNY which is valued at $2,279,285. Signature Bank makes up approx 0.05% of Oregon Public Employees Retirement Fund’s portfolio.First Mercantile Trust Co boosted its stake in SBNY in the latest quarter, The investment management firm added 2,871 additional shares and now holds a total of 9,508 shares of Signature Bank which is valued at $1,172,527. Signature Bank makes up approx 0.16% of First Mercantile Trust Co’s portfolio. Simplex Trading sold out all of its stake in SBNY during the most recent quarter. The investment firm sold 121 shares of SBNY which is valued $14,922.Independent Portfolio Consultants boosted its stake in SBNY in the latest quarter, The investment management firm added 65 additional shares and now holds a total of 200 shares of Signature Bank which is valued at $24,532. Signature Bank makes up approx 0.01% of Independent Portfolio Consultants’s portfolio. Washington Trust Bank sold out all of its stake in SBNY during the most recent quarter. The investment firm sold 27 shares of SBNY which is valued $3,312.

Signature Bank closed down -1.8 points or -1.47% at $120.96 with 4,61,827 shares getting traded on Tuesday. Post opening the session at $122.75, the shares hit an intraday low of $120.33 and an intraday high of $123.4 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 Upgraded by Barclays on Sep 28, 2016 to ” Overweight” and Lowered the Price Target to $ 139 from a previous price target of $150 .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 (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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