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Fly News Breaks for January 19, 2018
SBNY
Jan 19, 2018 | 08:28 EDT
Maxim analyst Michael Diana raised his price target on Signature Bank to $200 and kept his Buy rating, saying the Q4 earnings miss - $2.11 vs $2.23 consensus - would have been $2.43 without the one-time taxi medallion loss provisioning. Diana notes the the credit quality of the non-taxi medallion loans that constitute the remaining 99.1% of SBNY's loan portfolio appears to be excellent, with net charge-offs at only 0.05% of those loans.
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