Thrivent Financial for Lutherans trimmed its position in Signature Bank (NASDAQ:SBNY – Get Rating) by 82.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,805 shares of the bank’s stock after selling 83,536 shares during the period. Thrivent Financial for Lutherans’ holdings in Signature Bank were worth $2,051,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SBNY. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Signature Bank by 5.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 37,868 shares of the bank’s stock worth $5,718,000 after purchasing an additional 1,912 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in Signature Bank by 4.9% during the third quarter. Nuveen Asset Management LLC now owns 354,781 shares of the bank’s stock valued at $53,572,000 after purchasing an additional 16,724 shares during the period. Apollon Wealth Management LLC purchased a new stake in shares of Signature Bank during the third quarter worth $463,000. FDx Advisors Inc. lifted its position in shares of Signature Bank by 51.9% during the third quarter. FDx Advisors Inc. now owns 3,021 shares of the bank’s stock worth $456,000 after acquiring an additional 1,032 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Signature Bank during the third quarter worth $1,913,000. Institutional investors and hedge funds own 93.62% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on SBNY shares. StockNews.com started coverage on Signature Bank in a research report on Sunday, May 14th. They issued a “sell” rating on the stock. Bank of America increased their price objective on Signature Bank from $8.00 to $10.00 in a research report on Monday, April 3rd. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Signature Bank in a research report on Monday, March 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $174.53.
Signature Bank Price Performance
About Signature Bank
Signature Bank engages in the provision of commercial banking services. It operates through the Commercial Banking and Specialty Finance segments. The Commercial Banking segment consists of commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities.
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