Davis Capital Partners adds Signature Bank (SBNY) to its portfolio

Signature Bank (SBNY) : Davis Capital Partners added new position in Signature Bank during the most recent quarter end. The investment management firm now holds 125,000 shares of Signature Bank which is valued at $18,520,000 , the company said in a statement filed on Nov 14, 2016 with the SEC.Signature Bank makes up approximately 2.56% of Davis Capital Partners’s portfolio.

Other Hedge Funds, Including , Millennium Management reduced its stake in SBNY by selling 51,506 shares or 28.87% in the most recent quarter. The Hedge Fund company now holds 126,893 shares of SBNY which is valued at $18,800,467. Signature Bank makes up approx 0.04% of Millennium Management’s portfolio.Korea Investment Corp reduced its stake in SBNY by selling 31,100 shares or 97.8% in the most recent quarter. The Hedge Fund company now holds 700 shares of SBNY which is valued at $91,707.Blackrock Institutional Trust Company N.a. boosted its stake in SBNY in the latest quarter, The investment management firm added 22,228 additional shares and now holds a total of 1,679,422 shares of Signature Bank which is valued at $207,878,855. Signature Bank makes up approx 0.03% of Blackrock Institutional Trust Company N.a.’s portfolio.Garrison Bradford Associates Inc boosted its stake in SBNY in the latest quarter, The investment management firm added 16,275 additional shares and now holds a total of 19,725 shares of Signature Bank which is valued at $2,392,445. Signature Bank makes up approx 2.33% of Garrison Bradford Associates Inc’s portfolio.

Signature Bank opened for trading at $148.46 and hit $149.91 on the upside on Monday, eventually ending the session at $149.35, with a gain of 0.40% or 0.6 points. The heightened volatility saw the trading volume jump to 5,52,106 shares. Company has a market cap of $8,018 M.

On the company’s financial health, Signature Bank reported $2.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $2.04.Analysts expectations of $ 301.16.During the same quarter in the previous year, the company posted $1.88 EPS.

Many Wall Street Analysts have commented on Signature Bank. Signature Bank was Downgraded by Hovde Group to ” Underperform” on Nov 14, 2016. Shares were Reiterated by FBR & Co. on Oct 21, 2016 to “Outperform” and Lowered the Price Target to $ 140 from a previous price target of $155 .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 .

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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