Crypto-Friendly Signature Bank Added to JPMorgan’s ‘Focus List’
Signature is “positioned to ride the crypto wave,” a JPMorgan analyst wrote.
Crypto-Friendly Signature Bank Added to JPMorgan’s ‘Focus List’
New York-based Signature Bank has been added to JPMorgan’s list of recommended products on Tuesday.
- JPMorgan analyst Steven Alexopoulos added Signature Bank (SBNY) to its “focus list,” saying the bank is “positioned to ride the crypto wave.”
- A focus list highlights recommended stocks published by the investment firm’s research department.
- Deposit growth of 5x in 2020 to more than $10B has “caught investors by surprise and triggered many questions about the opportunity for growing this newer business.”
- Bank’s shares have had “very strong outperformance” year-to-date: Alexopoulos.
- “Overweight” rating maintained, with price target of $250 a share, versus $195 now.
