Spindletop Capital buys $8,996,400 stake in Signature Bank (SBNY)

Signature Bank (SBNY) : Spindletop Capital scooped up 1,500 additional shares in Signature Bank during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 76,500 shares of Signature Bank which is valued at $8,996,400.Signature Bank makes up approximately 13.31% of Spindletop Capital’s portfolio.

Other Hedge Funds, Including , Columbia Wanger Asset Management reduced its stake in SBNY by selling 53,393 shares or 13.69% in the most recent quarter. The Hedge Fund company now holds 336,607 shares of SBNY which is valued at $39,584,983. Signature Bank makes up approx 0.43% of Columbia Wanger Asset Management’s portfolio. Old Mutual Customised Solutions (proprietary) Ltd added SBNY to its portfolio by purchasing 700 company shares during the most recent quarter which is valued at $82,320. Signature Bank makes up approx 0.02% of Old Mutual Customised Solutions (proprietary) Ltd’s portfolio.Ameritas Investment Partners boosted its stake in SBNY in the latest quarter, The investment management firm added 421 additional shares and now holds a total of 8,488 shares of Signature Bank which is valued at $998,189. Signature Bank makes up approx 0.06% of Ameritas Investment Partners’s portfolio.Signaturefd reduced its stake in SBNY by selling 59 shares or 35.54% in the most recent quarter. The Hedge Fund company now holds 107 shares of SBNY which is valued at $12,866.

Signature Bank opened for trading at $119.62 and hit $121.25 on the upside on Monday, eventually ending the session at $120.7, with a gain of 0.99% or 1.18 points. The heightened volatility saw the trading volume jump to 5,06,517 shares. Company has a market cap of $6,480 M.

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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