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Fly News Breaks for February 19, 2020
SBNY
Feb 19, 2020 | 08:08 EDT
DA Davidson analyst David Bishop initiated coverage of Signature Bank with a Neutral rating and $160 price target. The analyst is positive on the bank's diversified balance sheet that is "rapidly transitioning away from a CRE/MF-centric focus and producing strong loan growth", but notes that the recent rally in shares warrants a Neutral stance. Bishop adds that he would likely get more constructive on the stock in the event of a material pullback.
News For SBNY From the Last 2 Days
SBNY
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.