Fly News Breaks for January 22, 2020
Jan 22, 2020 | 07:46 EDT
BMO Capital analyst Lana Chan raised her price target on Signature Bank to $154 after its Q4 earnings beat, citing the bank's ability to generate consistent deposit growth and keeping its net interest margins stable. The analyst also raises her FY20 and FY21 EPS views by 15c each to $11.45 and $12.30 respectively but keeps her Market Perform rating on the stock, Chan notes that Signature Bank's provisioning for commercial loan growth remains a "wild card", adding that the stock has already reflected the recent strength in deposits.
News For SBNY From the Last 2 Days
Jan 22, 2021 | 08:20 EST
Maxim analyst Michael Diana raised the firm's price target on Signature Bank to $200 from $172 and keeps a Buy rating on the shares. The company posted a "big" Q4 earnings beat with record deposit growth set to be deployed into new loans, the analyst tells investors in a research note. Diana is also updating his valuation model with a target multiple of 14.3-times earnings vs. 13.2-times prior.