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Fly News Breaks for April 20, 2018
SBNY
Apr 20, 2018 | 09:58 EDT
BMO Capital analyst Lana Chan lowered her price target on Signature Bank to $171 but kept her Outperform rating, saying the company's taxi medallion concerns should dissipate in Q1 after its announced 48% writedown. Chan adds that she is also revising down her FY18 EPS to $9.50 from $11.50 as the writedown pressured net interest margins by 2%, though she also believes that Signature Bank continues to track its $3B-$5B asset growth target and has the "levers" to initiate a "meaningful" capital return.
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