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Fly News Breaks for May 15, 2019
SBNY
May 15, 2019 | 07:42 EDT
As previously reported, Wedbush analyst David Chiaverini downgraded Signature Bank to Neutral from Outperform following "strong performance" since December and owing to the risk of onerous new laws related to multifamily housing potentially being passed in New York ahead of the June 15 expiration, and the recent decline in the five-year treasury yield that could pressure MF loan pricing. The analyst also lowered his price target on the shares to $130 from $140.
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