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Fly News Breaks for December 21, 2018
SBNY
Dec 21, 2018 | 07:11 EDT
As previously reported, Wedbush analyst David Chiaverini upgraded Signature Bank to Outperform from Neutral, citing the defensive positioning of its loan portfolio given the "bumpy" macro environment. The fact that the Fed recently struck a more dovish tone and Fed fund futures are pricing in only one rate hike in 2019 should support his assumption for the bank's net interest margin to stabilize mid-year, Chiaverini believes. He has a $125 price target on Signature Bank shares.
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