SBNY's Price Collapses Despite Positive Market Indicators

Signature Bank stock is trading -39.46% below its average target price of $208.29 after dropping -7.3% during today's afternoon session. Analysts are giving the large-cap Regional Banking company an average rating of buy and target prices ranging from $155 to $350 per share.

The stock has an average amount of shares sold short at 3.8%, and a short ratio of 1.78. Only 0.0% of the company's shares are owned by insiders, indicating that management does not have a deep alignment of interest with its shareholders. Finally, we also note that a significant number of institutional investors are invested in the stock, with 98.0% of Signature Bank's shares being owned by this investor type.

Institutions Invested in Signature Bank

Holder Shares Date Reported Percentage Value
Vanguard Group, Inc. (The) 7,171,793 2022-09-29 11.83% $904,327,247.00
Blackrock Inc. 4,607,995 2022-09-29 7.60% $581,045,135.00
Price (T.Rowe) Associates Inc 3,774,859 2022-09-29 6.23% $475,990,850.00
Capital International Investors 3,715,162 2022-09-29 6.13% $468,463,356.00
State Street Corporation 3,044,971 2022-09-29 5.02% $383,955,621.00
Alecta Pensionsforsakring, Omsesidigt 2,780,000 2022-09-29 4.58% $350,544,103.00
FMR, LLC 1,564,336 2022-09-29 2.58% $197,254,949.00
Parnassus Investments, LLC 1,295,357 2022-09-29 2.14% $163,338,042.00
Geode Capital Management, LLC 1,300,139 2022-09-29 2.14% $163,941,028.00
Invesco Ltd. 1,138,482 2022-09-29 1.88% $143,556,889.00

Top Mutual Funds Invested in Signature Bank

Holder Shares Date Reported Percentage Value
Vanguard Small-Cap Index Fund 1,597,752 2022-09-29 2.64% $201,468,540.00
Vanguard Total Stock Market Index Fund 1,557,885 2022-06-29 2.57% $196,441,510.00
Growth Fund Of America Inc 1,424,691 2022-09-29 2.35% $179,646,413.00
Vanguard 500 Index Fund 1,426,474 2022-09-29 2.35% $179,871,240.00
Vanguard Small Cap Value Index Fund 1,090,479 2022-09-29 1.80% $137,503,950.00
Fundamental Investors Inc 857,967 2022-09-29 1.42% $108,185,349.00
Parnassus Mid-Cap Fund 735,841 2022-09-29 1.21% $92,785,871.00
SPDR S&P 500 ETF Trust 712,791 2022-10-30 1.18% $89,879,382.00
Fidelity 500 Index Fund 679,815 2022-09-29 1.12% $85,721,273.00
Price (T.Rowe) Mid-Cap Value Fund 667,863 2022-09-29 1.10% $84,214,185.00

Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Signature Bank.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.

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