Goldman Sachs Resumes Signature Bank (SBNY) at Buy

February 28, 2014 6:50 AM EST
Get Alerts SBNY Hot Sheet
Price: $152.71 +1.25%

Rating Summary:
    18 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Goldman Sachs resumes coverage on Signature Bank (NASDAQ: SBNY) with a Buy. PT $148.00.

"SBNY is one of the few organic growth stories in banks, with plenty of room for share gains in New York City and its surrounding markets," analyst Ryan Nash said. "SBNY's unique model entails hiring seasoned teams with existing books of business (loans/deposits) from competitors and utilizes a high level of customer service to deepen these relationships. Given this structure, we believe it can penetrate further into multifamily, while continued growth in Signature Financial and long-term market expansion should keep growth above expectations for years to come."

For an analyst ratings summary and ratings history on Signature Bank click here. For more ratings news on Signature Bank click here.

Shares of Signature Bank closed at $128.84 yesterday.

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