Bluemar Capital Management Lowers stake in Signature Bank (SBNY)

Signature Bank (SBNY) : Bluemar Capital Management reduced its stake in Signature Bank by 14.44% during the most recent quarter end. The investment management company now holds a total of 38,500 shares of Signature Bank which is valued at $4,527,600 after selling 6,500 shares in Signature Bank , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Signature Bank makes up approximately 2.09% of Bluemar Capital Management’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in SBNY in the latest quarter, The investment management firm added 13,729 additional shares and now holds a total of 265,064 shares of Signature Bank which is valued at $31,171,526. Signature Bank makes up approx 0.05% of Manufacturers Life Insurance Company The’s portfolio.Liberty Mutual Group Asset Management boosted its stake in SBNY in the latest quarter, The investment management firm added 3,171 additional shares and now holds a total of 23,125 shares of Signature Bank which is valued at $2,719,500. Signature Bank makes up approx 0.10% of Liberty Mutual Group Asset Management’s portfolio.Mitsubishi Ufj Trust Banking Corp reduced its stake in SBNY by selling 9,179 shares or 7.35% in the most recent quarter. The Hedge Fund company now holds 115,773 shares of SBNY which is valued at $13,614,905. Signature Bank makes up approx 0.03% of Mitsubishi Ufj Trust Banking Corp’s portfolio.Wright Investors Service Inc reduced its stake in SBNY by selling 3,950 shares or 34.63% in the most recent quarter. The Hedge Fund company now holds 7,455 shares of SBNY which is valued at $893,407. Signature Bank makes up approx 0.36% of Wright Investors Service Inc’s portfolio.Sit Investment Associates Inc reduced its stake in SBNY by selling 2,875 shares or 8.69% in the most recent quarter. The Hedge Fund company now holds 30,200 shares of SBNY which is valued at $3,631,248. Signature Bank makes up approx 0.09% of Sit Investment Associates Inc’s portfolio.

Signature Bank closed down -1.17 points or -0.96% at $120.84 with 2,78,121 shares getting traded on Thursday. Post opening the session at $122.6, the shares hit an intraday low of $119.73 and an intraday high of $122.905 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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