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Fly News Breaks for February 11, 2019
SBNY
Feb 11, 2019 | 06:14 EDT
Piper Jaffray analyst Matthew Breese says Signature Bank remains his number one pick for 2019 following a meeting with management. The analyst "walked away with several positive datapoints," including positive net interest margin commentary, a "strong backlog" of multi-family loans set to reprice, and continued "strong deposit gathering capabilities" from the digital asset group and new Signet product. Further, Signature plans to remain active repurchasing shares at current levels, Breese tells investors in a research note. He keeps an Overweight rating on the shares with a $147 price target.
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