Trinity Street Asset Management Llp buys $26,967,853 stake in Signature Bank (SBNY)

Signature Bank (SBNY) : Trinity Street Asset Management Llp scooped up 56,902 additional shares in Signature Bank during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm now holds a total of 222,232 shares of Signature Bank which is valued at $26,967,853.Signature Bank makes up approximately 5.83% of Trinity Street Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Shell Asset Management Co boosted its stake in SBNY in the latest quarter, The investment management firm added 3,814 additional shares and now holds a total of 10,180 shares of Signature Bank which is valued at $1,235,343. Signature Bank makes up approx 0.03% of Shell Asset Management Co’s portfolio. Cribstone Capital Management added SBNY to its portfolio by purchasing 70 company shares during the most recent quarter which is valued at $8,683. Signature Bank makes up approx 0.01% of Cribstone Capital Management’s portfolio. Fox Run Management L.l.c. added SBNY to its portfolio by purchasing 1,700 company shares during the most recent quarter which is valued at $210,868. Signature Bank makes up approx 0.10% of Fox Run Management L.l.c.’s portfolio.Harding Loevner Lp boosted its stake in SBNY in the latest quarter, The investment management firm added 20,407 additional shares and now holds a total of 793,314 shares of Signature Bank which is valued at $102,424,771. Signature Bank makes up approx 0.77% of Harding Loevner Lp’s portfolio.

Signature Bank closed down -0.54 points or -0.45% at $120.24 with 3,29,225 shares getting traded on Friday. Post opening the session at $120.62, the shares hit an intraday low of $120.21 and an intraday high of $121.49 and the price fluctuated in this range throughout the day.Shares ended Friday 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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