5 Biggest Losers Today

3. Signature Bank (NASDAQ:SBNY)

Number of Hedge Fund Holders: 38

Shares of Signature Bank (NASDAQ:SBNY) turned red in pre-market trading Tuesday despite beating profit expectations for the third quarter. The full-service commercial bank reported earnings of $5.57 per share, above the consensus of           $5.44 per share.

Signature Bank (NASDAQ:SBNY) attributed the results to net interest income, which increased to $674 million, representing a jump of about 40 percent over the same quarter of 2021.

In addition, Signature Bank (NASDAQ:SBNY) said total deposits stood at $114.47 billion at the end of Q3, compared to $107.85 billion in the corresponding period of 2021.