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Fly News Breaks for March 15, 2019
SBNY
Mar 15, 2019 | 08:06 EDT
Wells Fargo analyst Jared Shaw says the macro environment continues to benefit Signature Bank and that the stock remains a top pick for 2019. The analyst sees less earnings from a slowing Fed and normalizing credit, and thinks the company's recent entry into California and the launching of new business lines "provide underappreciated potential for core deposit growth." Shaw raised his price target for Signature Bank to $150 from $135 and keeps an Outperform rating on the shares.
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