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Fly News Breaks for July 8, 2019
SBNY
Jul 8, 2019 | 08:25 EDT
As previously reported, Raymond James analyst William Wallace upgraded Signature Bank to Strong Buy from Outperform and maintained a $285 price target. Wallace expects the Fed to cut interest rates twice in 2019 and believes Signature Bank is more "shielded" than most banks from a declining interest rate environment. In addition, Signatures recent investments in its Fund Banking segment and Venture Capital Group will produce attractive balance sheet growth, the analyst wrote in a note to investors.
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