Wells Fargo analyst Jared Shaw reiterated an Overweight rating and $185.00 price target on Signature Bank (NASDAQ: SBNY).

"The crypto landscape for banks just got lonelier with SI winding down operations. While SBNY has self-imposed limits on crypto deposits, they may get a bit of pricing power with the exit. We like SBNY for its diversification and sub-TBV valuation," the analyst wrote in a client note.

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 $103.35 yesterday.