Investor Alert

London Markets Close in:

Market Pulse Archives

June 27, 2022, 8:36 a.m. EDT

Raymond James reiterates strong buy on Signature Bank and says its cryptocurrency exposure is 'overblown'

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Signature Bank (SBNY)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Steve Gelsi

Raymond James analyst David J. Long on Monday reiterated a strong buy rating on Signature Bank /zigman2/quotes/204403715/composite SBNY 0.00% after the shares have fallen steeply in recent weeks on jitters tied to crypto currencies. He lowered his price target to $305 a share from $350 a share. "[The] impact of digital currency volatility on Signature is overblown," Long said. "While the bank has exposure to the digital currency ecosystem as the leading depository bank, we see little, if any, earnings per share, credit and capital risk for Signature." Long said the bank's other core businesses "continue to perform well" and that its "superior growth profile" remains in place. Shares of Signature Bank rose 1.5% in premarket trades. The stock is down nearly 41% in 2022, compared to a drop of 17.9% by the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.30% .

US : U.S.: OTC
$ 0.12
0.00 0.00%
Volume: 201,213
June 8, 2023 10:34a
P/E Ratio
Dividend Yield
Market Cap
$7.55 million
Rev. per Employee
+12.62 +0.30%
Volume: 0.00
June 8, 2023 10:53a

Get news alerts on Signature Bank — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.